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Consider the impact of giving in your annual estate plan review

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estate plan review

Whether you’re gifting a lump sum to a family member or donating to charity this holiday season, it’s important to understand how gift giving might impact your estate planning. Review the following items with a qualified estate planning attorney to ensure you’re gifting in the most tax-efficient way.

Family gifts (before Dec. 31 or early in 2020): Gift splitting, business interests, gifts to minors, collectibles, fractional gifts.

Charitable gifts: Planned gifts, donor-advised funds, IRAs, foundations, appreciated assets, charitable split-interest trusts.

Do you have other unfinished estate planning items this season? Check out our complete year-end planning checklist here.

Daniel P. Gallagher Jr., Meyer, Unkovic & Scott, dpg@muslaw.com

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