Estate Must Pay Generation-Skipping Transfer Tax, Rules 6th Circuit
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Summary
A decedent's estate could not claim an exemption from the generation-skipping transfer tax for transfers from an estate trust to the settlor's grandnieces and grandnephews, the 6th Circuit has ruled in affirming judgment.
The generation-skipping transfer (GST) tax was enacted in 1976. The tax was intended to remove the estate planning tool of escaping taxation by skipping a generation in an estate transfer.See the full content of this document
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Estate Must Pay Generation-Skipping Transfer Tax, Rules 6th Circuit
However, the statute includes a grandfather clause that ...
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