Should You Gift Assets Before You Die? The Tax Mistakes to Avoid
Giving assets to your children may sound like a simple way to reduce your estate, but the wrong gift can leave your family with a much larger tax bill. The type of asset you give, its cost basis, and when you transfer it can completely change the outcome.
Todd Lutsky and Susan Powers examine the estate planning and tax consequences of gifting assets during your lifetime. They discuss real court cases involving inheritance and real estate, answer listener questions about Massachusetts estate taxes, and explain why gifting cash can produce a very different result from giving away appreciated…
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