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[quote=Anonymous][quote=Anonymous]the first about $12,000,000 passes without tax consequences. In laws must be loaded; in any event, they're poorly advised. [/quote] Maybe they're worth more than $24 million? Maybe they (rightfully so) are concerned that the existing exemption amount expires and must be extended and they anticipate that if the D's control Congress that the estate tax situation will tighten up? It's actually not a bad idea to go ahead and lock in the tax-free transfer now. In the past, amounts transferred under the gift tax exemption were grandfathered even when the estate exemption was subsequently lowered. Also, even Biden is running on eliminating the stepped-up basis for inherited assets, so the benefits of holding on to property until death may go away, as well. Sounds like OP's parents are hedging their bets. [/quote]
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