Taxation of Estates and Gifts
- If someone is not a descendent of the transferor's grandparents, he is assigned two generations below the transferor if he was born more than 37½ years after the transferor was. 26 U.S.C. § 2651(d).
- However, if one has been married at any time to the transferor or a non-skip relative of the transferor, he is assigned the same generation as the transferor and is not a skip person. 26 U.S.C. § 2651(c).
- Or if one is the descendant of a transferor's spouse's or former spouse's grandparents, he is not a skip person if he is not two generations or more below the spouse. 26 U.S.C. § 2651(c).
Entities are treated as being owned by the individuals owning them. 26 U.S.C. § 2651(f)(2).