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re: What to do with half mill?
Posted on 4/26/14 at 12:26 pm to GeeOH
Posted on 4/26/14 at 12:26 pm to GeeOH
quote:
Why doesnt he do something like gift the max amount to each kid each year, I think it's $13k/year (double if kid is married). It's tax free and it's a way to transfer it to whoever he wants.
If my wife and I are in a similar situation, this is probably what we'll do. I'd much rather see my kids enjoy my gift while I'm living
1
Posted on 4/26/14 at 12:31 pm to purpngold
Basically, it has a beneficiary so the money spent go thru probate and get taxed heavily.
I'm not sure this is accurate. Federal estate taxes begin at about $5MM don't they?
I'm not sure this is accurate. Federal estate taxes begin at about $5MM don't they?
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