DIRECT SKIP

direct skip. Tax. A generation-skipping transfer of assets, either directly or through a trust. • A direct skip may be subject to a generation-skipping transfer tax — either a gift tax or an estate tax. IRC (26 USCA) §§ 2601–2602. See GENERATION-SKIPPING TRANSFER; generation-skipping transfer tax under TAX; SKIP PERSON. [Cases: Internal Revenue 4224.]