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Abraham Kevin Spann, CLTC, FLMI
Personal Financial Representative
Abraham Kevin Spann & Sons Agency
64-77 Dry Harbor Road
Middle Village, NY 11379
Bus: 718-381-1400
Cell: 347-837-7095
Fax: 347-824-2394
Email: kevinspann@allstate.com
Website: agents.allstate.com/abraham-kevin-spann-middle-village-ny
Suzanne H. Nitzberg, CFP®
Personal Financial Representative
Investment Advisory Representative
This unique trust allows you to transfer assets to beneficiaries two or more generations younger than you — your grandchild or great-grandchild, for instance (or anyone else at least 37.5 years younger than you) — in a tax-advantaged way.
You can also use a GST as an incentive for behaviors you'd like to encourage or discourage in the younger generation. For example, you might stipulate that your beneficiary receives distributions only if they maintain a certain college GPA, successfully complete a rehab program, are self-supporting, or if the funds are used for specific purposes, such as purchasing a home or starting a business.
A GST will impact three generations and may remain in effect for a long time. Because your trustee will hold significant power, you should carefully consider your choice. Selecting a family member could breed resentment among other family members and create issues. Additionally, you should appoint successor trustees as well.
An important note: Unless new legislation is passed this year, this exemption amount is set to fall to $5 million in 2026. So, if you think a GST might fit your planning, now may be the time to talk with your trusted legal and financial professional to learn more details.
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