Reply to Do you have an age cut off on supporting adult kids?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Expect to do for ours the same my parents did by maxing out the annual gift amount. Passes on cash and avoids tax issues later when we pass. And will help with major expenses like house purchase or wedding. [/quote]

Your kids are going to inherit more than $30M indexed for inflation to when you die? Not sure what tax issues you're talking about. [/quote]

At this point, they would get about that amount.  With the potential for 2X that very likely.  So yes, tax issues.  Also we live in a state where anything over $1M is estate taxes at 10%+ and everything over $10M at 20%.  So yeah we have to worry about tax implications.

But mainly we expect to live for awhile, and our kids benefit more in their 20s from our help than getting that much at age 45-50+.  It's silly to sit on inheritance if you have enough for yourself already
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If your kids have to pay $3M in taxes, and so they only have $27M, that is not "something to worry about".  That is a wonderful situation. [/quote]

Well it would be $6M, and yes it's not a major issue to most.  But we would prefer not to give the state (or fed govt) more money, as we have already paid them nicely thru our lifetimes.

And the key issue is, them having access to $38K yearly in their 20s and beyond (once there are SO and grandkids we will also gift to them as we see fit) will greatly impact their overall life, much more than they would by getting it at 50+.  
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