Generation-skipping transfer or trust
A trust in which a principal amount is placed in a trust on the death of person A and is transferred to A's grandchildren when A's children die. The income from the trust goes to the children of person A while they survive.
Nearby TermsGeneral revenue Generally Accepted Accounting Principles (GAAP) Generation-skipping transfer or trust Generic Generic credit spread
Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University