While multi-generational trusts have been used in the United States for many decades, they gained more notoriety when Congress passed the generation-skipping transfer (GST) tax in 1986.1 Wisely, Congress provided an exemption from the GST tax so that grandparents could pass a limited amount, either outright or in trust, to their grandchildren, great-grandchildren or other “skip persons.”2 Multi-generational trusts have been a popular planning vehicle for families because they provide ...

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