Balancing the GSTT Exemption and the Marital Deduction
Probate and Property, July/August 2000, Volume 14, Number 4
By John B. Atkins
John B. Atkins is a lawyer and Vice President of Private Client Services with Wells Fargo Bank Nebraska, N.A. in Omaha, Nebraska, and is a member of the Probate and Trust Division's Fiduciary Responsibility (F-1), Administration and Litigation (F-3) and Employee Benefit Planning (F-8) Committees.
Two of the most technical areas that an estate planner may encounter are the marital deduction provisions of Code § 2056 and the generation-skipping transfer tax (GSTT) in Chapter 13. Drafting to coordinate these two areas requires great caution. This is especially true when the client wants to use a general power of appointment marital trust under Code § 2056(b)(5).