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Does a generation-skipping transfer result

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Reference no: EM132650831

Problem - With $5 million, Paul's will creates a trust with the following provisions: life estate to Jacob (Paul's son) and remainder to Anastasia (Paul's granddaughter and Jacob's daughter). Jacob dies when the value of the trust is $8 million.

Required -

a. Does a generation-skipping transfer result?

b. If so, when and in what amount?

Reference no: EM132650831

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