Reply to Financial support for adult children

Forum Index » Money and Finances

Reply to "Financial support for adult children "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Each of our 3 adult kids gets 32k a year (none are married yet). It is estate planning for us, but I am sure it is financial help for them. Once they get married and have kids we should be able to give gifts to everyone and max out the 529s.[/quote]

About how much do you have in your estate?  Just wondering at what point this level of gifting is typical? DH and I both come from modest means and didn't get any help from our families, but we are thinking about what we want to be able to provide for our kids in the future since we've done well.  Do folks with $3m in investible assets do this, or is it more common at $5m, or $10m+? [/quote]

With estates worth less than the lifetime gift allowance (23M for couples), there is no tax advantage of giving away money now. We are over that so we should save future taxes on our estate by making the gifts now. We are not so far above the limit that we need to worry about giving gifts against the lifetime limit. Funding 529s for a handful of grandkids will likely put us under the limit.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics