How to Take Full Advantage of Gifts in Estate Planning

Tag Archives: gift planning

How to Take Full Advantage of Gifts in Estate Planning

If you have an estate plan, chances are you have outlined how you would like to divide your wealth and assets among your friends and loved ones. But you can actually maximize the power of gift giving for estate planning by giving gifts while you are still alive, and have the added benefit of being […]

Be Careful When Making Certain Types of Gifts

Gift giving is a popular estate planning strategy to reduce the taxable value or your estate. However, the IRS has some very strict rules in place that govern the nature and amount of gifts you can give within a certain time without taking a tax hit. Here are a few strategies you should avoid if […]

What to Consider Before Making a Large Financial Gift

The Tax Cuts and Jobs Act, enacted December of 2017 significantly increased the exemptions for lifetime gift and estate taxes. Currently, the federal exemption is $11.7 million per individual or $23.4 million for married couples. That exemption is set to expire at the end of 2025. However, with a new administration and Congress, there is […]

Making Cash Gifts to Avoid Estate Taxes

Giving your wealth away while you are still alive isn’t just a way for you to get some satisfaction out of seeing how your gift affects your loved ones—it’s also a savvy estate planning tactic that can help you reduce or eliminate your estate tax responsibility. Here’s an overview of what you should know about […]

The Importance of Gift Planning

There is tremendous personal satisfaction in sharing your good fortune with those you love and supporting causes you care about. There are also tax advantages to doing just that. With federal estate taxes set at 40 percent for any amount in your estate that exceeds $5,340,000, it is crucial for wealthy individuals to explore ways […]