This case assumes that the client wishes to gift an individual asset directly to a beneficiary during lifetime. A simple gift is made of an asset (or portion of an asset) to one of the estate beneficiaries. It is assumed that the gift will be made in a lump sum prior to death. Gift taxes may result.
Click the Edit button to set the specifications of the Outright Gift:
- The name of the Outright Gift
- To select the asset to use to fund this technique, click the ‘+’ button.
- Verify the amount listed as Principal
- The year in which the transfer takes place
- Enter the number of donees.
- Annual Exclusion Used Enter the annual amount of exclusion used on each donee. For 2023, the maximum is $17,000.
- Minority Discount Enter the discount.