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amp;L, 2005), analyzes every aspect of a transaction, from the income, estate, gift and generation-skipping tax rules, to the related legal and business issues. The generation-skipping tax is intended to make such transfers too costly to be economically justified; it can potentially result in an extra tax of 45% of the transfer. Giving more than $1 million to a grandchild would incur the generation-skipping tax - see page 74 for more. |
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