Paul Sullivan writes this week in his Wealth Matters column about the $5.12 million gift tax exemption that is due to expire at the end of the year.
For the wealthy, that puts a deadline on making a decision about what and how much to give to heirs. But the questions the wealthy are wrestling with also apply to the rest of us, whose property is worth far less — is it better to give heirs a gift of cash or property? And while some people may believe that leaving a home to their children is a way of keeping the family together, the experts Paul spoke to said such gifts can often lead to unexpected complications.
Have you written your will yet? How have you dealt with gifts to your heirs? Have you figured out a way to divide your property so that all your heirs feel they were fairly treated?
Article source: http://bucks.blogs.nytimes.com/2012/09/07/deciding-what-to-leave-to-heirs/?partner=rss&emc=rss
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