"Are any present or future trust beneficiaries skip persons"
Well, yes, because if child dies, then if child does not exercise POA in favor of someone other than his children, the trust goes to the grandchildren, who are skip persons of the grandparents, who created the trust.
Or is it no, because child has a power of appointment? Therefore, trust will be included in his estate and assuming that the child leaves assets to his children, the transfer will not be subject to GST.
I think that the answer is "no" because once the property is included in child's estate, he is the transferor. But then again...perhaps he will leave assets to his grandchildren (skipping the children), in which case answer is yes.
Should I just answer "yes" for all of my trusts because it is possible that transfers subject to GST could occur?
Thanks for any help.