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    Transferring Family Assets to Minors

Transferring Family Assets to Minors

For 2020, an individual can gift up to $15,000 to another person in a year without needing to file a gift tax return.  Gifts in excess of the $15,000 limit are tracked through gift tax return filings and reduce the lifetime gift exclusion.   For this year, the exclusion is $11.58 million per person but could [...]

By cassidy|2021-01-22T17:07:51+00:00January 22nd, 2021|Estate Planning, Tax Planning|0 Comments
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