Indirect Skip

Indirect Skip

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Indirect Skip

Indirect Skip definition:  When assets are transferred through some intermediary steps from the grantor to the skip person (at least 37.5 years younger), an indirect skip has occurred, and generation-skipping transfer taxes may apply. For example, assets transferred to the next generation (a child) or to a trust before being subsequently transferred to a skip person (a grandchild) is an indirect skip.

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