A generalized partial-element equivalent-circuit (PEEC) method is proposed for modeling a planar circuit with a thin narrow slot on the ground. The approach is based on the coupled mixed potential integral equations for a problem with mixed electric and magnetic currents. The coupled integral equations are converted into a lumped-element circuit network using Kirchhoff's voltage law and Kirchhoff's current law of the circuit theory. The full-wave Green's functions for a grounded dielectric substrate problem are used. The interactions between electric current on a microstrip line and magnetic current on a slot are taken into account by introducing two kinds of controlled sources. This generalized PEEC model will be very useful in signal-integrity analysis for multilayered circuits. To validate the generalized model, three numerical examples consisting of microstrip lines and slots on the ground are presented. The results obtained by the proposed generalized PEEC model are compared with those obtained by commercial electromagnetic simulation software and published experimental results. Good agreement is obtained.