For most farm and ranch families, the most significant feature of the generation skipping transfer tax (GSTT) is the $1 million exemption per transferor. An exemption of $2 million was available through 1989 for transfers to grandchildren.
Harl, Neil E.
"Generation Skipping—The $1 Million Exemption,"
Agricultural Law Digest: Vol. 2
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol2/iss21/1