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A 66-year-old recently retired engineer wants to give each of his three adult children $19,000 a year from the couple's $1.5 million portfolio. He wants to see them enjoy the money now rather than wait for an inheritance.
His wife, 64, disagrees. She thinks the kids should earn it like they did and worries that $57,000 a year in gifts could put their own retirement at risk.
The tax rules make those gifts relatively straightforward. The harder question is whether the couple can afford them.
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A 66-year-old recently retired engineer wants to give each of his three adult children $19,000 a year from the couple's $1.5 million portfolio. He wants to see them enjoy the money now rather than wait for an inheritance.
His wife, 64, disagrees. She thinks the kids should earn it like they did and worries that $57,000 a year in gifts could put their own retirement at risk.
The tax rules make those gifts relatively straightforward. The harder question is whether the couple can afford them.
Don't Miss:
#benzinga
11 days ago
