My wife's father and my wife equally owned some property which was recently sold. The proceeds, according to my father-in-law, pass "tax-free" to our children ($10,000/child) plus the share my father-in-law owned he passed to my wife (his daughter) tax-free. My wife and I would like to invest the proceeds in a BTD strategy. Is it necessary to make this investment in a UGMA or UTMA to realize the tax break of the proceeds from the sale? If I don't use a UGMA or UTMA have I lost anything?Is this question beyond the scope of this message board?Thanks.
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