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.
Jennifer A. Pratt
- Partner in the Baltimore, MD office of Venable LLP
- Assists clients with estate planning, charitable giving, and business continuity planning while minimizing estate, gift and generation-skipping transfer tax exposure
- Experienced in the administration of decedent’s estates and the preparation of wills, trusts, both revocable and irrevocable, durable powers of attorney, advance directives and the incorporation and application for exemption for private foundations
- Assists clients and business owners with business succession planning and documents related to business tax planning
- Also experienced in drafting pre-marital agreements and post-marital agreements
- Can be contacted at 410-528-2883 or [email protected]
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