Kristine D. asked
I would like to gift appreciated stock or cash to my child using the $14k/year allowance, held in an irrevocable trust until the age of 27. If I set up a close relative to administer the trust, can I still make the investment decisions? Is it common to set up a secondary beneficiary, and if so, would that be the family's second child or spouse?
September 14th, 2024
Brandi L. answered
Transferring appreciated assets to an irrevocable trust is not a taxable event, and the basis of the...
September 14th, 2024
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