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ernie-haire
New Member

I would like information on the Unified Federal Gift and Estate Tax Exemption.

How does the Unified Federal Gift and Estate Exemption allow me to gift my children?

1 Reply
ToddL
New Member

I would like information on the Unified Federal Gift and Estate Tax Exemption.

You can always gift money to your children, but the tax implications will depend on how you do this.

  • Spreading gifts throughout your lifetime is a great strategy to help reduce estate taxes. Just be sure to leave yourself enough to live on.
  • Gifting up to $14,000 per recipient per year and making direct payments to medical and educational providers on behalf of loved ones are good options for minimizing taxes.
  • Any exemption you use for gifting will reduce the amount you can use for the estate tax.

You should consult a financial adviser for guidance based on your specific situation.

This article provides a good overview:

http://www.schwab.com/public/schwab/nn/articles/The-Estate-Tax-and-Lifetime-Gifting

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