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Henry's will creates a non-marital trust, providing income…

Henry's will creates a non-marital...
Henry's will creates a non-marital trust, providing income to his spouse for life with the remainder to his son on the death of his wife. After receiving income from the trust for the rest of her life, the spouse dies. When the spouse dies, the remainder goes to the son. At the transfer, which kind of generation-skipping transfer (GST) event occurs?A direct skip occurs
A taxable distribution occurs
A taxable termination occurs
No GST event occurs
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Answered in 14 hours by:
3/19/2018
Susan Markel
Susan Markel, Teacher
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The answer is No GST event occurs. Since the spouse has reached end of life, the distributions now go to the son without skipping a generation. There is no generation to skip since the spouse is no longer alive.
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Susan Markel
Susan Markel, Teacher
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