Money Inheritance/retirement question

**alnorth** · 11-22-2016, 02:34 PM

The only time giving money to family members starts to make sense (as far as taxes are concerned anyway) is if you have a MASSIVE estate worth well over $5.5MM, and you are getting close to death.

If you are not super-rich then schemes to give lots of money to lots of people are dubious, unless you are just being charitable.

The estate tax exemption is currently about $5.5MM and you can currently give away $14,000 per person per year without lowering that. So, say you have an estate worth $7MM, if you gave $14K/year to 10 people for 15 years you'd probably lower your estate's value below the estate tax exemption.

11-22-2016, 02:34 PM	#4
alnorth . Join Date: Dec 2002 Casino cash: $57156239	The only time giving money to family members starts to make sense (as far as taxes are concerned anyway) is if you have a MASSIVE estate worth well over $5.5MM, and you are getting close to death. If you are not super-rich then schemes to give lots of money to lots of people are dubious, unless you are just being charitable. The estate tax exemption is currently about $5.5MM and you can currently give away $14,000 per person per year without lowering that. So, say you have an estate worth $7MM, if you gave $14K/year to 10 people for 15 years you'd probably lower your estate's value below the estate tax exemption. __________________ how many emo kids does it take to change a lightbulb? HOW MANY?! none they just sit in the dark and cry
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