GIFTING BETWEEN SPOUSES

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Generally, when clients make gifts, they make them to their children and grandchildren in an amount that is completely free from the gift tax (currently in an amount equal to $13,000 per year). However, you may use the same logic to make gifts between spouses. The best part…you do not lose control of the money and it passes to your beneficiaries free from the estate tax. It must be done correctly though.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© David Wolf | Attorney Advertising

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