Learn about taxable events and exemptions.
Who is considered a skip person? When talking about skipping a generation, regulations state that a skip person is a natural person assigned to a generation which is two or more generations below the transferor’s generation assignment. Trusts can also be used as a skip person as well. This video reviews age rules of skip persons, interest rules, taxable events, and tax exemptions and exclusion with generation-skipping transfer tax.
Runtime: 28 minutes
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