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June 26, 2024
Question

Giving money to heirs

  • June 26, 2024
  • 1 reply
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If I have money in the bank or in retirement accounts how much can I give my heirs without them incurring taxes?  And is it better to give it prior to my death or in a will/trust?

1 reply

Employee
June 26, 2024

For calendar year 2024, you can gift up to $18,000 (per person/ per year) without being required to file a gift tax return (Form 709).

 

The lifetime gift tax exemption is $13.61 million.