1. Lifetime Gift Exclusions

  • The IRS and most states allow you to pass a certain amount of assets to your beneficiaries without paying estate or gift taxes.
  • It is important to understand how this number works, is subject to changes, and impacts your specific situation.
 

2. Annual Gift Exclusions

  • The IRS allows you to gift a certain amount to a person each year without paying gift taxes or diminishing your lifetime gift exclusions.
  • This is an important piece in long-term estate planning and useful tool for helping you give to the people and organizations that you care most about.
 

3. Lumping Gifts Together

  • The IRS allows us to lump gifts from multiple years into a single year using the annual gift exclusions instead of diminishing our lifetime gift exclusions. 
  • This is another great tool for you to utilize when considering gifting to the things you care about while also managing your tax bills.
 

4. Donor Advised Funds

  • Donor Advised Funds (DAF) are an advanced gifting tool that we utilize with some of our clients. This account allows our clients to gift the funds into an account immediately while maintaining flexibility on the timing of distribution of the funds and where they ultimately go.
  • DAFs require careful planning and execution with the help of our clients’ tax professionals.
 

5. Gifting Appreciated Investments

  • There are situations in which you might have an investment that has appreciated greatly over time and selling it would create a significant capital gain for you to pay taxes on.
  • There is a technique that allows you to gift those appreciated assets away that will provide you the tax benefit of making a donation and could be better than sending cash (or cash equivalents).
 

1. Lifetime Gift Exclusions

  • The IRS and most states allow you to pass a certain amount of assets to your beneficiaries without paying estate or gift taxes.
  • It is important to understand how this number works, is subject to changes, and impacts your specific situation.
 

2. Annual Gift Exclusions

  • The IRS allows you to gift a certain amount to a person each year without paying gift taxes or diminishing your lifetime gift exclusions.
  • This is an important piece in long-term estate planning and useful tool for helping you give to the people and organizations that you care most about.
 

3. Lumping Gifts Together

  • The IRS allows us to lump gifts from multiple years into a single year using the annual gift exclusions instead of diminishing our lifetime gift exclusions. 
  • This is another great tool for you to utilize when considering gifting to the things you care about while also managing your tax bills.
 

4. Donor Advised Funds

  • Donor Advised Funds (DAF) are an advanced gifting tool that we utilize with some of our clients. This account allows our clients to gift the funds into an account immediately while maintaining flexibility on the timing of distribution of the funds and where they ultimately go.
  • DAFs require careful planning and execution with the help of our clients’ tax professionals.
 

5. Gifting Appreciated Investments

  • There are situations in which you might have an investment that has appreciated greatly over time and selling it would create a significant capital gain for you to pay taxes on.
  • There is a technique that allows you to gift those appreciated assets away that will provide you the tax benefit of making a donation and could be better than sending cash (or cash equivalents).
 

1. Lifetime Gift Exclusions

  • The IRS and most states allow you to pass a certain amount of assets to your beneficiaries without paying estate or gift taxes.
  • It is important to understand how this number works, is subject to changes, and impacts your specific situation.
 

2. Annual Gift Exclusions

  • The IRS allows you to gift a certain amount to a person each year without paying gift taxes or diminishing your lifetime gift exclusions.
  • This is an important piece in long-term estate planning and useful tool for helping you give to the people and organizations that you care most about.
 

3. Lumping Gifts Together

  • The IRS allows us to lump gifts from multiple years into a single year using the annual gift exclusions instead of diminishing our lifetime gift exclusions. 
  • This is another great tool for you to utilize when considering gifting to the things you care about while also managing your tax bills.
 

4. Donor Advised Funds

  • Donor Advised Funds (DAF) are an advanced gifting tool that we utilize with some of our clients. This account allows our clients to gift the funds into an account immediately while maintaining flexibility on the timing of distribution of the funds and where they ultimately go.
  • DAFs require careful planning and execution with the help of our clients’ tax professionals.
 

5. Gifting Appreciated Investments

  • There are situations in which you might have an investment that has appreciated greatly over time and selling it would create a significant capital gain for you to pay taxes on.
  • There is a technique that allows you to gift those appreciated assets away that will provide you the tax benefit of making a donation and could be better than sending cash (or cash equivalents).