Should you give monetary gifts to kids and grandkids in 2017?
Balance estate tax savings with family values.
Gifting to children and grandchildren each year can have lots of benefits to your family, like making you feel good about helping those you love! However, when gifting cash or other assets you want to avoid pitfalls as well.
As an example, if a particular monetary gift does not fit with your family values and principles or isn’t healthy for its recipient it could be destructive vs. helpful. Most often tax considerations should be at the bottom of the list.
Estate tax planning is very complicated so you’re advised to work with a highly skilled team to ensure you achieve the desired results.
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