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You can safely gift stock under the annual gift exclusion, which allows individuals to give up to $17,000 annually (for 2023) or $18,000 (for 2024) to any number of recipients without incurring a ...
Estate planning usually involves determining how to pass assets on to younger generations. But instead of leaving a piece of real estate, bank account or burgeoning stock portfolio to your ...
Upstream gifting is a tax and estate planning strategy that calls on giving highly-appreciated assets to someone in an older generation, who in turns leaves the assets to the original owner's ...
The U.S. generation-skipping transfer tax (a.k.a. "GST tax") imposes a tax on both outright gifts and transfers in trust to or for the benefit of unrelated persons who are more than 37.5 years younger than the donor or to related persons more than one generation younger than the donor, such as grandchildren. [1]
When a taxable gift in the form of cash, stocks, real estate, gift cards, [2] or other tangible or intangible property is made, the tax is usually imposed on the donor (the giver) unless there is a retention of an interest which delays completion of the gift. A transfer is "completely gratuitous" when the donor receives nothing of value in ...
It is a more flexible extension of the Uniform Gifts to Minors Act (UGMA), and allows the gifts to be real estate, inheritances, and other property. [citation needed] The Act allows the donor of the gift to transfer title to a custodian who will manage and invest the property until the minor reaches a certain age. The age is generally 21, but ...
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The transfer of equitable interests must be performed in writing by the owner or their agent. A gift is assumed when property owner deeds real estate as joint tenants with rights of survivorship. Regardless of contribution to purchase price, such a deed guarantees each tenant equal shares upon sale or partition of the property.