Tax-free Gifts To Your Beneficiaries

After a few days with the grandkids, David is ready to talk about ways to give tax-free gifts to beneficiaries, now and in the future. How can you pass some of your legacy onto the next generation? Whether you are well into retirement or still have kids yet to leave the nest, there are a number of ways to do this. David shares three strategies and then discusses what possible downsides you’d want to watch out for.

 

Here’s what you’ll learn on today’s show:

• What does it mean to have a tax-free gift? (3:28)
• Doing a Roth conversion can benefit your beneficiaries. (4:28)
• Roth contributions can be made by parents or grandparents. (9:01)
• Use a stepped-up cost basis on a non-IRA brokerage account. (10:33)
• Are there any downsides to these strategies? (12:45)

 

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.