Every adult is assumed to be capable of making his or her own decisions unless a court determines otherwise. If an adult becomes incapable of making responsible decisions, then the court will appoint a substitute decision maker.
Gifting assets to your grandchildren can do more than help your descendants get a good start in life — it can also reduce the size of your estate and the tax that will be due upon your death.
Congress sets the amount that an individual can transfer tax-free either during life or at death. The current estate tax exemption is so high that very few estates will have to pay an estate tax.
“Who put the flame in the crème brûlée, brûlée?” Remember to share your results with us.
Many websites offer customized, do-it-yourself wills and other estate planning documents. Although these products are convenient, using them could create serious and expensive legal problems for heirs.
