Justin H. Brown , left, and George M. Riter, Jr., right, of Ballard Spahr. Courtesy photos Gifting: A Powerful Tool for an Effective Estate Planning Strategy
Regardless of one's level of wealth, gifting is an important tool for an effective estate planning strategy. Individuals have many potential gifting options, both simple and complex, that may be utilized to pass wealth down to lower generations and reduce the size of one's taxable estate to avoid estate and inheritance tax at death.
February 05, 2024 at 09:02 AM
8 minute read
Trusts and EstatesRegardless of one's level of wealth, gifting is an important tool for an effective estate planning strategy. Individuals have many potential gifting options, both simple and complex, that may be utilized to pass wealth down to lower generations and reduce the size of one's taxable estate to avoid estate and inheritance tax at death. These gifting strategies, either alone or in conjunction with others, can have significant benefits to a family if they are started early and done consistently.
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