Potential Benefits of Lifetime Gifts

February 22, 2022
Potential Benefits of Lifetime Gifts

Many estate plans include a program of making lifetime gifts which has the potential to offer important rewards and benefits. Here are some of these benefits you may want to consider:


May reduce probate costs and taxes

Lifetime gifts, especially of income-producing assets, can potentially reduce the size of your estate. A smaller estate may mean decreased probate costs and may also reduce or eliminate income and estate taxes.


Avoids uncertainty

Lifetime gifts can be assets that will go to those you intend it for, for instance, your children or grandchildren, and not a former spouse or creditors. On the other hand, a will could be challenged or creditors’ claims could take precedence over your wishes.


Protects privacy

Lifetime gifts are private. Only you, the recipients, and possibly the tax authorities, need to know the details. By contrast, what goes through probate is a matter of public record.


Gives pleasure

Making gifts during your lifetime allows you to experience the pleasure of seeing your loved ones enjoy them. It may also give your heirs the benefit of the assets when needed most.

A program of lifetime gifts may make good sense as part of your estate plan. The potential rewards and benefits may extend to you and your estate, as well as your heirs.

This article has been prepared by third party sources and is being provided for informational purposes only, does not constitute investment advice and does not necessarily represent the opinions of TDC Investment Advisory.  TFO-TDC, LLC is a registered investment advisor.  Nothing in this Presentation should be interpreted as implying the performance of any client accounts, or securities recommendations.  TDC Investment Advisory does not provide any guarantee, express or implied, that the information presented is accurate or timely, and does not contain inadvertent technical or factual inaccuracies.

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