Gifts of Real Estate really are Gifts - and the IRS is looking for them

Typical scenario - Client's child comes in and advises " Oh - and I own (all or part of) my parents' house. " For some reason the fact that they own another parcel of real estate is normally an afterthought. This leads to more questions, such as "How did you get the real estate...

Ask Liza: Annual Gifts and Lifetime Gifts

Dear Liza, I would like to give my son $200k to upgrade homes. Can me and my wife each give $13,000 to my son, daughter in law, and two grand children? That would be $102,000, and then apply the remaining $98,000 to the unified tax credit. Can I write it all in one check for the four of them? You...

Ask Liza: Should We Get Married? Estate Planning for Same Sex Couples Now

By Liza Weiman Hanks | Dear Liza: My long term domestic partner of 30 years and I were registered domestic partners for a few years and then she decided she wanted to be totally financially independent of me so we terminated the agreement last year. We are still together as a couple and live five...