Because each donor is treated as a separate party for tax and other purposes, donors often involve others in making gifts. For example, a donor might transfer assets to his or her spouse, so the spouse actually makes the gift...more
This podcast often discusses the elements of a trust, and how to grant access, control and flexibility to beneficiaries and trustees. But for tax and other purposes, the donor typically cannot retain those kinds of...more
In previous episodes, we discussed the exemptions that apply for gift, estate and generation-skipping transfer tax. Many of these exemptions are adjusted for inflation each year. In Episode 16, we’ll review those exemptions...more
The beginning of the year is a good time to think about annual gifts to descendants and other beneficiaries. Episode 17 will walk through some options to make efficient use of annual gifting and also address some potential...more