Practical Lessons for Your Financial Life (Collection)

Protection of Spouses and Gifting to Children and Charitable Interests

Protecting spouses and gifting to children and charities involves another complex series of decisions that require thought and examination. On one hand, we’ve worked hard for our assets, and perhaps our first thought is that we want to see them transferred to our heirs in their entirety. On the other hand, we recognize that we’re facing estate taxes and sometimes even taxes for current gifts. We want to make sure our spouses have the protection of a sufficient asset base for liabilities, lifestyle needs, and the support of the children. When the children are older, we don’t want to provide a disincentive for them to perform economically by inundating them with too much money ...