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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CASH DRAW see PROPRIETORS DRAW.

IMPLIED DIVIDEND RATE is the basis for calculating yields on adjustable-rate preferreds; assumes that the dividend rate will remain the same as the index rate for all future dividends.

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