Oxford University Press's
Academic Insights for the Thinking World

February 2009

Tax “Old” Wealth By Abolishing
the GST Grandfather Exemption

In this article, Zelinsky calls for the President and Congress to repeal the grandfather exemption from the federal generation skipping tax (GST) for irrevocable trusts established on or before September 25, 1985. This exemption, he argues, unfairly immunizes from federal taxation transfers at death of “old” wealth while economically equivalent transfers of new wealth are taxed.

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