Generation-skipping transfer tax

{
  "id": "MLC-T-LAW-002300",
  "term": "Generation-skipping transfer tax",
  "field": "Law",
  "definition": "A federal tax imposed on transfers of wealth to beneficiaries who are two or more generations younger than the transferor, such as grandchildren. This tax aims to prevent individuals from avoiding estate and gift taxes by skipping a generation. The tax applies in addition to any applicable estate or gift tax.",
  "url": "https://mlchart.com/terminology/law/generation-skipping-transfer-tax/"
}