Message:

<p>[QUOTE=&quot;GeorgeM, post: 1857411, member: 28550&quot;]I found out the annual gift limits are $14k per recipient. Also, there&#039;s a lifetime gift limit of $5.34 million (which I can only dream of ever bumping up against).</p><p><br /></p><p>Also, I apologize for poor wording (I was pretty much brainstorming a presentation as I wrote). On #4 - I meant you should give those amounts each year, with a written attestation that the amounts were given each year so that your heirs don&#039;t have any problems with the IRS or in-fighting between each other. Lying about such gifts (which what I wrote could be read to suggest) would be tax fraud &amp; not the best way to prepare your heirs. </p><p><br /></p><p>Over-the-limit inheritances can incur taxes, so my point was that planning should include a way to minimize tax exposure. If you work it out with the recipient then that shouldn&#039;t be a problem because they wont make mistakes on their tax returns.</p><p><br /></p><p>Here&#039;s how I would arrange it (for the size of collection I&#039;m likely to have) - I would let my son know that I&#039;m giving him a gift (say, in a Christmas card) that he must agree not to sell until after my death &amp; that he must lend back to me for safekeeping. I think that would be a great way to get him started on appreciating coins that are his/ours, and to at least let him know what is in my safe before he has to unravel things on his own. </p><p><br /></p><p>For larger estates, it might make more sense to set up a trust in inheritors names that the donations are made to (with you as the executor of the trust).[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in