Last year we provided some advice for gifting during your lifetime. See this link https://legacystudiolaw.com/should-you-consider-gifting-money-to-family-or-friends-during-your-lifetime-as-part-of-your-estate-plan/ The numbers have been updated for 2023. You can now give an individual gift of up to $17,000 a year to as many individuals as you want without having to file a gift tax return. Additionally, each individual’s lifetime gift…
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The IRS has increased the maximum amount we can gift to individual family members and friends tax-free from $15,000 to $16,000 per recipient per year. This means you can now give an individual gift of up to $16,000 a year to as many individuals as you want without having to file a gift tax return.…
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We are often asked for referrals to financial advisors and we are happy to make introductions. Occasionally clients hesitate to work with a financial advisor because of confusion about the cost. Many of our clients have heard that they should only work with a “fee only” financial advisor, but they don’t understand what that means. …
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