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Planning your Wealth


Should You Gift Your Heirs Now? Or Wait?

By Paula Pant. You're in your golden years, and you're thinking hard about estate planning. You want to leave gifts for your heirs, but should you wait until you pass away? Or should you give some money to them now? First, let's review the rules: Gift Tax vs. Estate Tax Gift tax is the tax imposed by the federal government on any transfer of property to an individual without receiving any consideration in return. Property in this sense includes both tangible property and intangible gifts... more