frayne
Thinks s/he gets paid by the post
An older couple I was talking to this evening were inquiring on the best way to tax shelter about $60K other than gifting.
A little background, in order for an elder parent to receive some kind of VA benefits he has to have less than say $80K of assets. He has $140K, so in order to get down to the cap he has to get rid of $60K, and ideally pass it down to his family with minimal tax consequences.
Any ideas or suggestions, any and all replies are appreciated
A little background, in order for an elder parent to receive some kind of VA benefits he has to have less than say $80K of assets. He has $140K, so in order to get down to the cap he has to get rid of $60K, and ideally pass it down to his family with minimal tax consequences.
Any ideas or suggestions, any and all replies are appreciated