Sometimes it is just as important to know how not to do a thing, as it is to learn how to do something. So let's take a moment to discuss what to avoid when choosing your major. 1  Do not leave it for your parents to decide your course of studies.
direct transfer. Definition. The movement of tax-deferred retirement assets from one plan or custodian directly to another. A direct transfer is not a withdrawal and does not incur any taxes or penalties. This allows a person to move his/her retirement assets as many times as he/she wants to plans or custodians that might be more suitable for him/her at that point in time.
Direct vs. Indirect Skips. The taxation of a GST depends on whether the transfer is a direct or an indirect skip. A direct skip is a property transfer made to a skip person that is subject to an estate or gift tax. An example of a direct skip would be a grandmother gifting property to a grandchild.The transferor, or his or her estate, is responsible for paying the GST tax for direct skips.any people use a grandchild as a skip person, but a skip person does not have to be a family member. Any individual other than a spouse or ex-spouse is eligible to receive a generation skipping transfer as long as they are at least 37.5 years younger than the transferor.