Generation-Skipping Trust

Business, Legal & Accounting Glossary

Definition: Generation-Skipping Trust




What is the dictionary definition of Generation-Skipping Trust?

Dictionary Definition


A trust designed to save on estate tax. The trust principal is preserved for the trust maker’s grandchildren, with his or her children receiving only income from the trust. Because the children (the middle generation) never legally own the property, it isn’t subject to estate tax at their death. See generation-skipping transfer tax.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/generation-skipping-trust/
Modern Language Association (MLA):
Generation-Skipping Trust. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 21, 2021 https://payrollheaven.com/define/generation-skipping-trust/.
Chicago Manual of Style (CMS):
Generation-Skipping Trust. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/generation-skipping-trust/ (accessed: September 21, 2021).
American Psychological Association (APA):
Generation-Skipping Trust. PayrollHeaven.com. Retrieved September 21, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/generation-skipping-trust/

Definition Sources


Definitions for Generation-Skipping Trust are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 22nd April, 2020 | 0 Views.