From: "John Levine" <johnl@taugh.com>
To: tuhs@tuhs.org
Subject: [TUHS] Re: Trust stuff, Re: Sad but not unexpected news about the LCM-L
Date: 25 Jun 2024 23:34:39 -0400 [thread overview]
Message-ID: <20240626033439.F2B6A8E0F31D@ary.qy> (raw)
In-Reply-To: <20240626012958.GH23135@mcvoy.com>
According to Larry McVoy <lm@mcvoy.com>:
>This is almost completely unrelated but somewhat in the "write your
>will/trust the right way". ...
>So I gave him my third but it is a pain in the butt. You can only
>gift so much each year without a tax implication.
Well, in principle, but unless you expect your estate to be over $10
million, you generally don't have to pay any gift tax. (If you do
expect your estate to be over $10M, you need a real tax expert, not
advice from random mailing lists.
>The point being that none of the trust people had ever heard of, or
>thought of, the idea that one of the kids would be willing to give
>up their share.
That's surprising. Every testamentary trust I've been involved with
had language that let the heirs disclaim all or part of their share. I
thought it was boilerplate. You are quite right that it's an important
thing to include.
next prev parent reply other threads:[~2024-06-26 3:34 UTC|newest]
Thread overview: 16+ messages / expand[flat|nested] mbox.gz Atom feed top
2024-06-25 18:17 [TUHS] " Clem Cole
2024-06-26 0:56 ` [TUHS] " Aron Insinga
2024-06-26 1:29 ` Larry McVoy
2024-06-26 3:34 ` John Levine [this message]
2024-06-26 9:22 ` [TUHS] Wills. (Was: Sad but not unexpected news about the LCM-L) Ralph Corderoy
2024-06-26 1:42 ` [TUHS] Re: Sad but not unexpected news about the LCM-L George Michaelson
2024-06-26 17:22 ` aki
2024-06-26 1:44 ` Paul Guertin
2024-06-26 1:46 ` Dan Cross
2024-06-26 2:46 ` Paul Guertin
2024-06-26 5:36 ` Lars Brinkhoff
2024-06-26 14:30 ` [TUHS] Planning for the future was " Will Senn
2024-06-26 15:18 ` [TUHS] " Al Kossow
2024-06-26 21:57 ` [TUHS] Re: Planning for the future Warren Toomey via TUHS
2024-06-30 13:05 ` Will Senn
2024-06-26 16:56 ` [TUHS] Re: Sad but not unexpected news about the LCM-L aki
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