The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retired Fools

URL:  https://boards.fool.com/avoid-estate-tax-gifts-to-grandchildren-11341116.aspx

Subject:  Avoid Estate tax gifts to Grandchildren Date:  10/6/1999  10:08 PM
Author:  ChuckONeil Number:  730 of 21407


I am looking to begin giving each of my two grandchildren around $5000 to $10000 a year.

I want to do this so they will have plenty of money for college, buying a house or ?. I also want to do this to avoid the estate tax my heirs will end up paying if I don't start giving it away now.

I understand that the tax laws regarding gifts of this nature are more complicated because they are minors. If I am also giving similar amounts to their parents, will the gifts be taxed as income for the boys?

Can anybody advise me or lead me to more information regarding gifts to minors?

Chuck O'Neil
Copyright 1996-2019 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us