Skip Person - Law Dictionary Search Results
skip person
Matched in: Term skip person
non-skip person
Matched in: Term non-skip person
taxable termination
the trustee when an interest in the property terminates (as at the death of the parent of a skip person), no interest is held by one who is not a skip person, and a distribution to a skip … death of the parent of a skip person), no interest is held by one who is not a skip person, and a distribution to a skip person may be made compare direct skip, taxable distribution
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trust
trust, and names beneficiaries gen·er·a·tion-skip·ping trust : a trust in which the principal will eventually go to a skip person usually following payment of income for life to a non-skip person : a trust created by a generation-skipping … the principal will eventually go to a skip person usually following payment of income for life to a non-skip person : a trust created by a generation-skipping transfer of property in trust grantor trust : a trust that
direct skip
Matched in: Term direct skip
generation-skipping transfer
a taxable termination, a taxable distribution, or a direct skip see also direct skip generation-skipping trust at trust, skip person, taxable distribution, taxable termination NOTE: A transfer from a grandparent to a grandchild qualifies as a generation-skipping transfer,
taxable distribution
generation-skipping transfer of property held in trust that is subject to a generation-skipping transfer tax payable by a skip person when he or she receives a distribution of income or principal compare direct skip, taxable termination
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