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Giving While You’re Living: Annual Gifting, Estate Taxes, and Family Dynamics
Giving While You’re Living: Annual Gifting, Estate Taxes, and Family Dynamics
This week's blogpost - https://bahnsen.co/3RwqRr9
Trevor Cummings hosts the Thoughts on Money (TOM) podcast with Blaine Carver and blog author Matt Gregory to discuss Matt’s article on lifetime gifting versus waiting to transfer wealth at death. They explain the annual gift exclusion ($19,000 per person, doubled for married couples) and how repetition can move substantial amounts without using the federal lifetime exemption (about $15 million per person), especially when gifts are invested outside the taxable estate and annual limits may rise. They cover practical gifting methods such as direct payments for education and medical costs, using notes and annual loan forgiveness for home purchases, and trusts with guardrails to avoid harming children’s motivation. The conversation addresses state-level estate taxes (noting 13 states and Illinois’s $4 million threshold), the importance of communication, and cautions about AI advice and gifting appreciated stock due to basis and capital gains implications.
00:00 Welcome and Introductions
00:37 Why Give While Living
02:41 What Holds Families Back
03:53 Client Conversations Driving It
05:47 Creative Gifting Strategies
06:54 Repetition Builds Wealth
09:42 Avoid Ruining the Kids
12:10 Training Wheels and Family Talks
14:14 Balancing Transparency and Prudence
18:36 Communication and Expectations
22:24 State Estate Tax Nuances
28:09 AI Advice and Hidden Pitfalls
32:22 Final Takeaways and Wrap Up
Links mentioned in this episode:
Trevor is a Partner, Director of our Private Wealth Advisor Group, and Author of Thoughts on Money.
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