It always feels good to give to those you love. But gifting large amounts may raise some unintended tax consequences. Luckily, there are many ways you can minimize the hit or avoid it all together. One way is by establishing a trust. This is a legal entity that holds assets for the benefit of others.There are several types of trusts out there, each with different benefits. But before we explore these options, it’s best to understand the basic tax implications of gifting.Gift and Estate Tax ExclusionFor 2025, you can give up to $19,000 in assets like cash or stocks to any individual or entity without triggering any tax implications. A married couple can double that to $38,000. So, for example, a married couple can give up to $38,000 each to their daughter and grandson without getting the attention of the Internal Revenue Service. This is what’s known as the annual gift tax exclusion.
5.8
C
Ottawa
Friday, December 19, 2025
The Alliance Press is the world leader in online chained news and information and seeks to inform, engage and empower the world. We expose the information that wasn't known before or current events broadcast over the radio, television, online or in print media. Our content is now available through your mobile phone. No matter where your on-the-go lifestyle takes you, TAP brings the news directly to you.
More from CN
Contact
© The Alliance Media Group design by CODEUS