Amherst, NH Family Plans Ahead for Their Children’s Inheritance
If you have a sizable estate, it can be beneficial to start giving it to your loved ones now, rather than waiting until you pass away. You can give any number of people up to $17,000 each year without incurring the gift tax. For couples this amount is $34,000. This can allow families to begin accepting their inheritance while their loved ones are still alive, receiving money without having to pay estate taxes. Another benefit of this type of lifetime giving is that you can have the joy of sharing your wealth with family now.