Should Parents Transfer Assets to Children for Estate Planning: Pros and Cons

Рет қаралды 8,063

Күн бұрын

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00:00 Parents Gifting Assets To Children
2:02 Gifting for Education for Children and Grandchildren
2:46 Allow Parents To See Positive Impact on Children
7:09 Some Children Have Greater Needs
8:06 Medicaid Eligibility
9:43 Creditor Protection Purposes
10:40 Tax Rules Related To Gifting
11:23 $18,000 Present Interest Annual Exclusion
15:30 Carry Over of Capital Gains Tax Basis
17:32 Step-Up in Capital Gains Tax Basis
19:34 Keeping Assets In The Estate
19:52 Gifting Appreciated Assets To Charity
23:18 Gifting Assets After a Married Person Dies
25:06 Gifting In Trust To Avoid Estate Tax
27:17 Transferring Assets To Irrevocable Trust for Medicaid Eligibility Purposes
29:38 Should Gift To Child Be Part Of Child's Future Inheritance?
30:44 Be Aware of Capital Gains Tax Rules When Gifting
31:17 Gifts That Are a Fraudulent Conveyance

Пікірлер: 11

@flips6908 29 күн бұрын

Great info! I would like to see a future video on most tax efficient way to give away assets, to least tax efficient way. You did somewhat touch on this, but more of a “do this first, order of operations” approach from standpoint of the recipient. For example, I have asked my recent college graduate son, to max his 401k contribution, and in return for doing so, I have funded his Roth IRA to max $7000/ year. (He does meet all income limit requirements). Is an additional $11,000 per year gift the next best way?

@d.a3446 29 күн бұрын

Excellent informative video. Wish I had known about Paul’s estate planning services when we set up our trust. Thank you!

@mlee1308 29 күн бұрын

You guys are the best. Thank you

@caroleressler3396 25 күн бұрын

State estate tax exemptions are lower then federal...trap for the unwary

@concordca2325 25 күн бұрын

I like to see a future video on tax implication on giving away assets while you’re still alive.

@Imohlaapohko 29 күн бұрын

Thank you!

@americasestateplanninglawy1946 29 күн бұрын

You're welcome!

@M22Research 21 күн бұрын

Gifting unequally to children during your lifetime and “equalizing” (adjusting) inheritances accordingly? I always told our parents, “It is your money, it is up to you what you do with it. That includes gifting more or less to one of us.” We plan the same methodology with our now adult children.

@jeffpratt605 29 күн бұрын

Can I gift money into my sons Roth IRA?

@M22Research 21 күн бұрын

Only if he has earned income up to that contribution level and has not hit the annual limit himself. A new way to fund your child’s Roth IRA, again assuming they have that amount of earned income and have not used up the annual limit? If you had set up a 529 for them and they are the named beneficiary of the 529… and there are excess 529 funds after they have completed their education, the remaining money can be used up to a limit to fund their Roth IRA.