GST Exempt Trust definition

GST Exempt Trust means a Trust all of the principal of which shall consist of property which shall be exempt from GST tax for any reason and, if it shall be so exempt by reason of the allocation of a portion or all of a GST exemption to such property, shall have an inclusion ratio of zero.
View Source

Examples of GST Exempt Trust in a sentence

  • The Trustees shall apply the terms of the Descendants' Trusts separately to property which is exempt from GSTT and property which is not exempt from GSTT, so that there shall be one trust that is potentially subject to generation-skipping transfer tax (the "GST Non-Exempt Trust") and one trust that is exempt from the generation-skipping transfer tax (the "GST Exempt Trust").

  • In that event, without limiting the Trustee's discretion, the Grantor suggests that no distributions be made from the GST Exempt Trust until the GST Non-Exempt Trust is exhausted, unless there is a compelling reason to do so.

  • The GST Exempt Trust and the GST Non-Exempt Trust may be held and administered as if they were a single trust, in solido.

  • If the GST Exempt Trust also has more than one GST transferor, the transferred property shall be added to the separate trust for GST purposes having the same transferor.

  • The plan shall consist of eighty percent (80%) payment of reasonable and customary charges covered for preventive and diagnostic services, basic services, and major services.

  • The Trustee may hold as much of the property of the Lifetime Trust as the Trustee may determine in the exercise of discretion as a separate trust ("the GST Exempt Trust") and hold the balance of the trust property in another separate trust ("the GST Non-Exempt Trust").

  • The Trustee (excluding, however, any Interested Trustee) is also authorized in the Trustee's absolute discretion to transfer property from the GST Non-Exempt Trust to the GST Exempt Trust.

  • The GST Exempt Trust and the GST Non-Exempt Trust shall have identical terms but shall be accounted for as separate trusts for which investments and distributions need not be the same.

  • The Grantor anticipates this will be done in such manner that the GST Exempt Trust will have a zero inclusion ratio with respect to the Grantor and the Grantor's Wife as transferors for Federal generation-skipping transfer tax purposes (to the extent either or both of them may be considered a transferor of property held under this Article for such purposes).

  • When additions are made to the Lifetime Trust, the Trustee may wait until there is sufficient information concerning what GST exemption has been allocated to the addition before allocating the added property to the GST Exempt Trust or the GST Non-Exempt Trust.