Generation Skipping Trusts

Minimizing Taxation Through a Generation Skipping Trust

Minimizing the impact of taxation is a critical part of the estate planning process for many families. For some, an appropriate instrument to achieve this goal is a generation skipping trust. This type of trust allows assets to bypass your children, making your wealth available at a later date to your grandchildren. The benefit comes from avoiding double taxation. For large estates, the goal is to avoid having assets taxed in your estate, and then taxed again in the estates of your children.

A generation skipping trust can be a great solution if your children are not likely to need the wealth during their lifetime. Placing assets in a trust for your grandchildren can also protect this property in the event of a divorce or bankruptcy.

Understanding Your Estate Planning Options

While there are obvious benefits to a generation skipping trust, there may also be challenges associated with this type of estate planning vehicle. In order to determine if a generation skipping trust is right for you and your family, we encourage you to contact us at Hayes & Wilson. Our trust lawyers will help you understand your estate planning options, and will provide guidance on the most appropriate methods to achieve your goals.

Call for a Consultation with a Houston Trust Attorney

To learn more about your estate planning options, contact our Houston generation skipping trust lawyers at 713-880-3939. As a benefit to our clients, we offer fixed fees for most services.