Low Interest Rate Gift Planning

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While clients still have all of 2020 to take advantage of annual exclusion gifts (currently $15,000 per donee) and the increased lifetime gift tax exemption (now $11,580,000 per taxpayer), practitioners may wish to recommend that clients not wait too long to take advantage of the current low interest rate gift opportunities for a number of reasons, including the advantage that once a gift is made, any future appreciation of the transferred property and any future income generated thereby will escape transfer taxes.

Originally published in the July 2020 edition of Estate Planning (Vol. 47, No. 7).

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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.

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