What are the benefits of a gift trust as opposed to traditional gifting?
You work hard to provide for your family and likely will pay a hefty amount in taxes over your lifetime. To allow families to provide for their loved ones without the tax penalty, the Internal Revenue Code offers a gift tax exclusion. Per the exclusion, each person is permitted to give an unlimited number of people $15,000 per year, or $30,000 for a married couple, without paying taxes. While gifting annually is a wonderful part of many estate plans, a less utilized option involves
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