December 8, 2017 – 12:00 pm
THE FACTS: I would like to help defray the cost of college for my grandson, Joe. My daughter and son-in-law are not in a position to pay full tuition, room and board. I don’t want them or Joe to borrow for his education. THE QUESTION: What is the best way to help out without hurting […]
December 8, 2016 – 12:00 pm
THE FACTS: With the holidays fast approaching, I’ve been thinking about making gifts of cash to my grown children. I’ve heard that I can give each child $14,000 without any negative tax consequences. I am not wealthy but, at this point, I believe I can afford to give each of my children $14,000. I know […]
November 26, 2015 – 3:16 pm
The Facts: I wanted to give my children and grandchildren significant cash gifts for the Holidays but, I am confused about gift tax liability and about how gifting may impact my future eligibility for Medicaid in the event I need long term care. The Questions: Could you explain how gifts are treated for Medicaid and […]
