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What is the Generation-Skipping Transfer Tax?

April 26, 2017generation-skipping tax transfer

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What is the Generation-Skipping Transfer Tax?

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10 Posted

Generation-Skipping Transfer Tax is a tax on assets given to individuals who are more than one generation away from the person making the gift. For example, a grandparent giving an asset to a grandchild, either during the grandparent’s life or at death, would be a generation skipping gift.