There is a limit on how much you can benefit future generations without incurring additional transfer tax. Tune in to this episode to learn about the Generation-Skipping Transfer Tax (GST). This is a complex tax that applies to transfers of wealth between multiple generations. Steve Murphy, chair of the private wealth services practice group at McGuireWoods, shares the history of the GST tax and how it could affect different generations.<a href="https://media.mcguirewoods.com/events/2023/Once-Removed-Ep4.pdf" rel="noopener noreferrer" target="_blank">Read Summary & Transcript</a>

There is a limit on how much you can benefit future generations without incurring additional transfer tax. Tune in to this episode to learn about the Generation-Skipping Transfer Tax (GST). This is a complex tax that applies to transfers of wealth between multiple generations. Steve Murphy, chair of the private wealth services practice group at McGuireWoods, shares the history of the GST tax and how it could affect different generations. Read Summary & Transcript

There is a limit on how much you can benefit future generations without incurring additional transfer tax. Tune in to this episode to learn about the Generation-Skipping Transfer Tax (GST). This is a complex tax that applies to transfers of wealth between multiple generations. Steve Murphy, chair of the private wealth services practice group at McGuireWoods, shares the history of the GST tax and how it could affect different generations.<a href="https://media.mcguirewoods.com/events/2023/Once-Removed-Ep4.pdf" rel="noopener noreferrer">Read Summary &amp; Transcript</a>

Generation-Skipping Transfer Tax

McGuireWoods is thrilled to announce the launch of a new podcast hosted by Steve Murphy, chair of the firm’s private wealth services practice group. “Legacy Planning, Once Removed” explores estate planning and provides steps for the management of wealth throughout life and upon death. Steve showcases meaningful ways to pass wealth on to others and accomplish donors’ financial short- and long-term goals. Over the next 25 years, baby boomers will pass an unprecedented $68 trillion to beneficiaries and charities. The key challenge of legacy planning lies in how to use wealth to help the next generation be productive and independent. Podcast topics focus on beneficiary designations and property ownership, estate and gift tax, and best practices for productive investment, wealth management and transfer of wealth.

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Generation-Skipping Transfer Tax

Generation-Skipping Transfer Tax

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