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Updated almost 12 years ago,

User Stats

299
Posts
88
Votes
William Bannister
  • Commercial Landlord
  • Oshkosh, WI
88
Votes |
299
Posts

Estate taxes and gifits to Children

William Bannister
  • Commercial Landlord
  • Oshkosh, WI
Posted

Has anyone taken the steps to give there child assets in the form of equity in property? Would it be in my best interest to do this as I get older to get rid of my property without my son getting taxed on it? I already have over 4 mil in equity. By the time I die it could be 10 million. Does the fed estate tax start at 5 million for exemption per married person? If for example: I give away 1 million to my son over 20 years would this be against my 5 million exemption? Is it legal to give a child equity in a property as a gift which is accompanied by monthly cash flow? We are planning to move to Florida for retirement tax purposes.
Any estate planning attorneys in the house?

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