Making Gifts
When we think of estate planning, many of us think about leaving property after death. But giving money, heirlooms, or almost anything else while you're alive can also be a significant part of your estate planning. You get to see the recipients enjoy their gifts, and you might reap tax benefits as well.
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Making gifts during your life can provide you with tax savings and more.
Know the tax consequences of giving away money or property during your lifetime.
Making gifts is great—just don't create a tax problem for yourself or the recipients.
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