use of generation-skipping trust

i cant figure out what it means so i copied the following text, please HELP!! “arguably, they could use their UNIFORM TAX CREDIT to pass wealth onto their children” what is uniform tax creit. “they should use the full amount of their allowable generation skepping exemption” what exemption? “they would likely manify the impact of that exemption by gifting cash to the GST and having the GST buy into a partnership holding the required investments, to allow the GST to benefit from purchasing the interest in the partnership at some discount to net asset value” what kind of partnership is the text referring to and how does valuation discount work? finally, what kind of questions can we expect from this reading(reading 18 book 2) this section is really really difficult for me, please advise. thx