Grandparents sometimes consider lifetime gifts to grandchildren when planning for their financial future. Not only will the gifts give the grandchildren a good start in life and perhaps a brighter future, but by such gifts may have an added benefit to your estate: by gifting to your descendents you can reduce the size of your estate and, possibly, reduce estate taxes payable upon your passing.<\/p>\n
The simplest form of gift is to make an outright gift, providing that your grandchild is of an age to be considered an adult. In California, that age is 18. As long as that the gift is not more than $13,000 per year per grandchild, no gift tax report is required. Married couples can double their gift. By way of example, if you and your spouse have four grandchildren, by doubling your gift, you could give away up to $104,000 per year without incurring any gift tax (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Grandparents sometimes consider lifetime gifts to grandchildren when planning for their financial future. Not only will the gifts give the grandchildren a good start in life and perhaps a brighter future, but by such gifts may have an added benefit…<\/span><\/p>\n