generation-skipping trust - Investment & Finance Definition
A trust that is created upon the person’s death. The income for the trust goes to the person’s children while they are alive. When the children die, the trust transfers to the grandchildren. Tax regulations have been tightened to limit the tax-free transfer to grandchildren to $1 million.Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana. Used by arrangement with John Wiley & Sons, Inc.
generation-skipping trust - Legal Definition