direct skip

noun

Legal Definition of direct skip

: a generation-skipping transfer of an interest in property to a skip person : a transfer that is to a person two or more generations below the person making the transfer or to a trust in which all interest is held by such persons and that is subject to generation-skipping transfer taxes — compare taxable distribution, taxable termination

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Dictionary Entries Near direct skip

direct review

direct skip

direct tax

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Cite this Entry

“Direct skip.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/direct%20skip. Accessed 20 Oct. 2021.

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