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Reply to "Medical malpractice settlement question"
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[quote=Anonymous]Federal estate taxes in 2020 are triggered when an individual’s estate is over $11.58MM, so you have nothing to worry about at this time. Put the money into your own account. As suggested above it would be a nice thing to contribute to your twins Roth IRA’s to the legal maximum. If you’re so inclined, you could gift them up to $15000/year tax free (the Roth donation you make probably counts against this $15k). You can also gift them additional monies that would count against your lifetime exemption. I think this is a good start. You then have time to consult with a pro on what else you can do. Good luck to you. [/quote]
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