Gifting to relatives under 19K/yr is ok under IRS rules, but Medicaid counts this as wealth that precludes them from covering nursing care. Instead, 2:42 use 1) a Medicaid asset protection trust, taking the funds out of your name, or 2) a promissory note, lending the person the money with a payback structure.
Give grandkids money as a structured trust with a distribution staggered between age 25 and 30.
8:57 Don't put grandkids on the deed while you're alive, but leave the home to them in a 9:20 revocable living trust so they get a "stepped up basis" of the value when you die for capital gains taxes.
9:46 A trust allows you to decide when they get the money.
10:48 include a "letter of wishes" with the gift - it's not legally binding, but then their parents can substantiate "that's not what Grandma wanted you to do with that money," which is sometimes just what a 20-year-old needs to hear instead of blowing the money.
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