Beneficiary of a Generation Skipping Trust

[sunrise131]

My grandfather died in 1966. He left $5,000,000 to me in a generation skipping trust. My mother was the intermediate beneficiary. She lived off the income. Now that she has died do I have to pay any taxes on the principal when I receive it?

[M-MTax]

Get help from a local lawyer for this. The GST tax didn't even apply before 1976 so there's that. Today the GST exemption is huge at way over $12,000,000 so you should be OK.