The Family Loan Shark
$860,000 – that is the amount of the increase in the gift, estate, and generation-skipping transfer (“GST”) tax exclusion that came into effect on January 1st when the exclusion increased from $12.06 million for 2022 to...more
As a result of the Federal Reserve Bank's recent stimulus and interest rate decreases in response to the coronavirus, intra-family loans can be used to transfer wealth to future generations with no gift tax consequences as...more