Defined-value gifts – Plan carefully to avoid unpleasant tax surprises

Description

Abstract: Many people are considering making substantial gifts to the younger generation to take advantage of the current exemption while it lasts. Often, these gifts consist of hard-to-value assets, which can be risky. Making a defined-value gift may help avoid unexpected tax liabilities. This article explains what a defined-value gift is and details why precise language is necessary for the gift to pass muster with the IRS.