Most people are not too worried about the new, higher ceiling of the estate tax. However, there are plenty of good reasons to give away assets before death, even for people of more modest means. Federal law now allows people to give away $15,000 to an individual each year.
So, people with five grandchildren can give away up to $75,000, $15,000 to each of them each year.
Legal Guidance Now is for general educational purposes only and is not intended to provide legal advice on any subject matter whatsoever. Your use of the content provided by this website is at your own risk. Due to frequent changes in the law, some information on this website may not reflect the current state of the law. We are not responsible for any errors or omissions in the content of this website or for damages that arise from your use of the content under any circumstances.
No reader of Legal Guidance Now should act on the basis of any content included in this website without seeking appropriate legal advice (in consideration of the particular facts and circumstances at issue) from an attorney who is licensed to practice law in the reader’s state.
