A trust or similar arrangement in which the beneficiary is two or more generations younger than the donor, for tax purposes. Often the skipped generation is still able to receive income from the trust while they are alive.

Related information about generation-skipping transfer:

1. Generation-skipping transfer tax - Wikipedia, the free encyclopedia
   The U.S. generation-skipping transfer tax imposes a tax on both outright gifts and transfers in trust to or for the benefit of unrelated persons who are more than ...
    
2. A Look At The Generation-Skipping Transfer Tax
   Aug 4, 2009 ... For those who encounter this tax, it can be costly. Find out how to navigate this complicated tax arrangement.
    
3. The Generation-Skipping Transfer Tax: A Quick Guide
   Generation-Skipping Transfer Tax Sooner or later, every estate planner comes face to face with the generation-skipping transfer tax (GSTT). Many practitioners ...
    
4. How do the estate, gift, and generation-skipping transfer taxes work?
   Jun 13, 2011 ... The United States has taxed the estates of deceased persons since 1916. In 1976 Congress linked taxes on estates, gifts made during life (inter ...
    
5. United States Gift (and Generation-Skipping Transfer) Tax Return ...
   Form 709. Department of the Treasury. Internal Revenue Service. United States Gift (and Generation-Skipping Transfer) Tax Return. ▷ Information about Form ...
    
6. What Is the Generation-Skipping Transfer Tax? - Elder Law Answers
   The generation-skipping transfer (GST) tax is a tax on property that is passed from a grandparent to a grandchild (or great-grandchild) in a will or trust. The tax is ...
    
7. 17-110 Generation-Skipping Transfer Tax Return for Terminations ...
   A separate request must be made to Texas for an extension to pay Texas Generation-Skipping Transfer Tax. Send IRS Form 2758 with attachments on or ...
    
8. Generation Skipping Transfer financial definition of Generation ...
   A trust in which a principal amount is placed in a trust on the death of person A and is transferred to A's grandchildren when A's children die. The income from the ...