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What would be the difference between inheritance and just giving your children money as long as you are alive? Would you be barred from that as well? So you cou
by elcapitan 11y ago
What would be the difference between inheritance and just giving your children money as long as you are alive? Would you be barred from that as well? So you could spend your money on whatever you want, but not give it to a very particular group of people?
- AnimalMuppet 11y agoIf I understand correctly, there are limits to how much you can give your kids before taxes kick in. It used to be something like $10K/year and $150K/lifetime above the $10K/year. And if you used the $150K/lifetime, it cut into what they could inherit without taxes. IANAL, and that was a while ago. I don't know what the current rules are.