Comment

Jupiter Impact Photo

254
doppelganglander7/21/2009 4:56:08 pm PDT

re: #207 Buck


re: #182 EmmmieG

No, she thinks that if he has the right to choose where his money is going, so should the rest of us.

Charity = Family?

Really?

If she, or anyone one wants to give their money to charity, they can… But I don’t think giving money to your family should be deductible.


EmmmieG is correct, that is my basic point. Also, deductible is different from exempt. If you give money or other assets to your family during your lifetime, there is an annual limit (which I believe right now is around $12K). If I had that kind of money, my husband and I could give each of our kids $24K ($12K each) every year. Since we have 3 kids, that would be $72K per year removed from our estate and therefore not subject to estate taxes. That may or may not be an effective way to avoid those taxes — what if one of my kids were a drug addict, or I was concerned about providing for my own end of life care? After all, my grandmother lived to be 90. I’m just saying that all that money has been taxed once already, and it should be my decision about what to do with it when I’m gone.