A Legal Way to Move Assets from the Parents to the Children

question 92

Multiple Choice

A legal way to move assets from the parents to the children in order to avoid estate taxes upon the parents' death is to

• A) gift up to $5,000 per year to one child per year.
• B) gift up to $14,000 per year to each child.
• C) give $20,000 in cash to each child every year.
• D) give each child a share of the family home by putting them on the title to the home.

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Definitions:

Samoan

Pertaining to the people, language, or culture of Samoa, a country comprising islands in the central South Pacific.

Symbol

A sound, gesture, mark, or other sign that is arbitrarily linked to something else and represents it in a meaningful way.

Handshake

A gesture involving the grasping and shaking of hands between two people, typically used as a greeting, farewell, or agreement.

Scream

To emit a loud, sharp, piercing sound typically as an expression of intense emotion, fear, or pain.