8 Estate Planning Mistakes to Avoid (Page 6 of 10)
Categories: Estate Planning
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Mistake #5: Not Taking Advantage of Annual Gift Exclusions
Giving money gifts can be confusing, because of the tax implications. You can give gifts of up to $13,000 (up from $12,000 in 2008) to anyone you choose without any tax liability to you or the recipient. This reduces the value of your estate, and therefore the tax liability, when you die. It also helps your loved ones right now!
Watch our exclusive video on estate planning basics to make sure you have every angle covered!
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