Linas Sudzius has authored an article that appeared in the National Underwriter.  Here is an excerpt:

Even estate planning professionals sometimes struggle with the generation skipping tax. The GST is an extra tax imposed—in addition to possible gift or estate tax—when there’s a transfer to grandchildren or to a family generation more remote than children.  The current GST rate is 45%.

In 2009, the GST exemption is $3.5 million—up from $2 million in 2008.  The bigger exemption makes some estate planning opportunities more attractive….Read Full Article.