Articles Tagged with Gift Tax Planning

Published on: September 18, 2015

A Gift by Any Other Name is Still a Gift in the Court’s Eyes (Hughes v. Comm’r)

By: Dana M. Horlick, Attorney, Woodruff Family Law Group

Hughes v. Comm’r, T.C. Memo. 2015-89, 2015 WL 2180505 (2015)

(a) Facts: A husband owned stock in a consulting business that was growing in value. He was afraid that if he retained the stock, his former wife would seek to reopen their divorce decree. He therefore gave the stock to his present wife. Continue reading →

Published on: May 14, 2015

Estate Planning vs. a North Carolina Divorce

By Carolyn J. Woodruff, North Carolina Family Law Specialist, JD, CPA, CVA

By Woodruff Family Law Group

In North Carolina, estate planning can be difficult with the high divorce rate. Most who are estate planning want the property to go where it is intended. The gift tax annual exclusion for 2015 is $14,000 per donor per donee. This means a married couple can, together, give $28,000 to a son. If they also make a gift to the daughter-in- law, that means $28,000 times two or $56,000 can be transferred from a married couple to a son and his wife, for example. Great estate planning, but what happens when the donees get a divorce. Continue reading →

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