Family Wealth Conversations: ’Tis Better to Give with Tax Laws on Your Side

Spring and summer are typically filled with celebrations of life’s milestones, graduations, and weddings to name just a few. These and other life events are all occasions when we may wish to bestow meaningful gifts on those we care about. Thoughtful gifting strategies can help families transfer wealth from one generation to another, soften the burden of education expenses, and give younger generations a taste of the responsibilities that come with substantial wealth. This article offers suggestions for strategies and limits on gifting and a refresher on federal tax rules.