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Generation-skipping transfer (GST) refers to the transfer of money or property, as a gift or inheritance, to a person who is two or more generations below that of the grantor. The gifting party is referred to as the “transferor,” and the recipient is known as the “skip person.” While the skip person is often a grandchild, it could be any non-spousal family member who’s at least 37.5 years younger than the transferor.

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