No. of Recommendations: 1
This might help a little.

If its cash, its as simple as writing a check or doling out the Benjamins. If its some other asset (stocks, property, etc.) its a matter of transferring deed/ownership/etc.

The gift tax limit is now $13,000 per person. However, if MIL AND spouse want to give more to a person, they can each give 13k so total is 26k. Or if this is for a person in college a one time gift of 65k (130k with spouse) is treated as 13k for 5 years.

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