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On IRS Form 706 Pg.20 it says, "2. Where the beneficiary is a lineal descendant of a grandparent of a spouse of the decendent, the number of generations between the decedent and the beneficiary is determined by subtracting the number of generations between the grandparent and the spouse from the number of generations between the grandparent and the beneficiary." (I DO NOT UNDERSTAND THIS)

Then it says," A persons not assigned to a generation according to the above is assigned to a generation based on his or her birth date as follows: a. A person born more than 12 1/2 year, but not more than 37 1/2 years, after the decedent is in the first generation younger than the decedent. (WHAT ARE A B C D TO ME?)
________
__________
__________
E.Father
__________
__________
__________
A.3/2/82 _________
B.3/23/84 K. 4/5/1849
C.11/3/86 I.8/4/1890
D.12/11/91 (mat. GGF) L.2/17/1859
G.5/14/39
(mat. GF) M.4/16/1880
J.8/23/1913
(mat. GGM) N.11/5/1886
F.2/20/58
(mother) __________
__________
__________
H.1/27/41
(mat. GM) __________
__________
__________


A-D = Beneficiaries
E = Father
F = Mother
G = Maternal Grandfather
H = Maternal Grandmother
I = Maternal Great Grandfather
J = Maternal Great Grandmother

My husband is a brother to "G" and was born Dec. 1946
I was born Mar. 1949. (I am an Aunt by marriage to F)

Are A B C D "ALL" skip generation persons to me? F is alive and well.

Would A B C D be skip persons to me if F, their mother, predeceased me?

Does the GST tax get taken out of an estate over $3,000,000 after the federal estate tax is paid, but BEFORE final distribution to the heirs? (Thereby paying GST tax one time only)

OR is GST tax taken out every time a skip person receives principle or income from a trust for the rest of their lives?

Butterfly

susan_from_whittier@hotmail.com








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