SKIP PERSON Definition

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SKIP PERSON is a transfer of property to a person who is in a generation below a child of the transferor, referred to as a "skip" person, typically a grandchild or great grandchild.

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LINE ITEM is one item from a group of many items, e.g. one inventory item from the list of all inventoried items or one budgeted item from a financial budget.

DISPOSABLE INCOME is the amount of an individuals income left after taxes which is available for spending and / or savings. See DISCRETIONARY INCOME.

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