How can I effectively gift my assets while planning my estate?
An example of an AI chatbot conversation about gifting assets and estate planning.
How can I effectively gift my assets while planning my estate?
Gifting assets can be a great way to reduce your taxable estate. What specific assets are you considering?
I'm thinking about giving some real estate and investments to my children.
That's a thoughtful approach! Have you considered the tax implications and how it might affect your estate plan?
Not really, what should I be aware of?
You should be aware of gift tax limits and potential capital gains taxes. Consulting with a tax advisor can help clarify these.
Thanks! Should I also update my will after gifting?
Yes, updating your will is important to reflect your current wishes and ensure your estate plan aligns with your gifting.
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