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Reply to "What is your guess on this man's net worth?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]it's illegal to give that much to your kids.[/quote] no it's not. someone just has to pay taxes on it.[/quote] And only after you exceed the $5 million lifetime exemption. Of course, the individual in question can give $13,000 per year each to his children, their spouses, and his grandchildren. I've lost track, but it sounds like there are at least two children, who I presume have spouses, and four grandchildren. So he can give 8 x $13,000 or $104K per year without any tax penalty.[/quote] op is saying he gives each kid 10k MONTHLY. Don't think she knows what she's talking about.[/quote]
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