GENERATION-SKIPPING TRANSFER
generation-skipping transfer.A conveyance of assets to a “skip person,” that is, a person more
than one generation removed from the transferor. • For example, a conveyance either directly or in
trust from a grandparent to a grandchild is a generation-skipping transfer subject to a
generation-skipping transfer tax. IRC (26 USCA) §§ 2601–2663. See generation-skipping transfer
tax under TAX; generation-skipping trust under TRUST; SKIP PERSON. [Blacks Law 8th]