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Gift Now, Pay Less Later | Leeds News
Starting April 2027, pensions will be hit with inheritance tax — prompting a rush to plan ahead. You can currently gift up to $325,000 tax-free, or $500,000 if leaving your home to kids, and married couples can combine allowances for up to $1 million. But the real strategy? Gifting now. Gifts made seven years or more before death usually dodge tax. Plus, two hidden annual allowances: $3,000 per person (carryover allowed) and $250 to as many people as you like — just don’t exceed $250 per person per year. Keep records of all gifts — even small ones — with your will. Plan smart now to protect…
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