In Wills (or Trusts) containing second generation planning, the Child's Trusts and Descendant's Trusts are lifetime trusts. Because each beneficiary's trust lasts for his/her entire life, the protections and benefits that the trust provides also last for the beneficiary's entire life.

Note that second generation planning implicates a federal tax that is separate (and, often, in addition to) the federal estate tax and the federal gift tax: the generation- skipping transfer tax (GST tax).