Not spending it? The low-hanging fruit of gifting to family members

Portrait photo of man in blue suit with white shirt and pattern tie

Originally published on the Cape Gazette’s website

By Robert Jeter

May 21, 2023

For some retirees, a point in life may be reached where the likelihood of you spending down your assets becomes a low probability. A factor of positive market returns or low levels of spending earlier in retirement may have left you with a larger nest egg than you started with. The problem isn’t uncommon.

Lifetime gifting is a popular subject we often discuss with clients who may find themselves in such a circumstance. But the most frequent question often isn’t around the intention, but how to go about it. There are pros and cons to funding various types of accounts for the next generation, and several other factors. However, the low-hanging fruit of gifting is to start by identifying simple accounts you can fund for kids or grandchildren for their benefit over their lifetime.

Continue reading