Wills & Estates

Generation Skipping Trusts

Wright Street Lawyers in Adelaide, South Australia, provides client-focused legal counsel on generation skipping trusts. A generation skipping trust is a powerful estate planning tool that allows individuals to pass assets to their grandchildren or subsequent generations while bypassing their children. Our team of experienced lawyers can guide you through the complexities of setting up and managing a generation skipping trust to ensure your wealth is protected for future generations.

Benefits of Generation Skipping Trusts

Generation skipping trusts offer various advantages, including:

  • Preserving assets for grandchildren and future generations
  • Reducing estate taxes by minimising the number of taxable transfers
  • Protecting assets from creditors and lawsuits

Key Considerations

When considering a generation skipping trust, it is essential to address the following aspects:

  1. Choosing the right trustee to manage the trust assets
  2. Specifying the terms and conditions of the trust to align with your goals
  3. Evaluating the potential tax implications of the trust

    4. Frequently Asked Questions

    A generation skipping trust is a legal arrangement that allows individuals to transfer assets to their grandchildren or subsequent generations while avoiding estate taxes.
    Anyone looking to pass wealth to future generations can benefit from a generation skipping trust, especially those concerned about estate taxes and asset protection.
    Our team of experienced lawyers at Wright Street Lawyers can provide personalised guidance and legal support in establishing and managing a generation skipping trust tailored to your specific needs and goals.

    For client-focused legal advice on generation skipping trusts and other estate planning matters, contact Wright Street Lawyers in Adelaide, South Australia.

    Contact Wright Street Lawyers