Gifting to Children Properly | Wills, Trusts & Estates Prof Blog | 12/16/11

Pile of gorgeous gifts

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‘Tis the season to give! Many parents will consider making large gifts to their children. Thanks to Linda Stern | Rueters, parents can make smarter moves when it comes to making proper gift and not break any tax rules.

Stern’s Tips Include:

— Act now. “Use it or lose it,” The $5 million lifetime gift tax exemption expires December 31, 2012, and it could revert to $1 million then.

— Take advantage of lower values. Maybe the family vacation home was worth $600,000 in 2007, but it’s worth $400,000 now.

For the list of tips see Gifting To Children Properly from Wills, Trusts & Estates Prof Blog: Real Property, Trust and Estate …

, Stern Advice: Once in a Lifetime Gifting Opportunities,

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About vinhsu

Center City Philadelphia General Practice Law Firm with emphasis on Criminal Defense, Family Law, Immigration, Real Property, and Wills/Trusts/ Estate Planning. Licensed in Pennsylvania and New Jersey.
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