The Inheritance Trust: Upstream Multigenerational Planning
Probate and Property, January/February 2003, Volume 17, Number 1
By Sheryl Brantley Latham
In the typical estate planning representation, clients and their estate planning counsel tend to focus their attention “downstream.” Classic downstream estate planning concentrates on the tax-advantaged transfer of the client’s wealth to younger generations, with provisions for their support and education. “Crummey” trusts, credit shelter trusts, GRATs, installment sales, dynasty trusts, FLPs—staples of the estate planner’s toolbox—all share a common theme as planning techniques designed to minimize taxes while shifting wealth downstream.