When property is gifted it is important to look at the facts and circumstances surrounding the gift, and analyze whether or not a gift has actually been made for estate tax purposes. If a donor maintains a certain amount of control over the property than a gift may not have been made for estate tax purposes, and the property could be included within the donor’s estate for federal estate tax purposes. This may not have been the overall goal for the donor, and the inclusion of the asset within their estate could create a larger amount of estate taxes.
You can discuss your estate planning matters with a Denver estate planning attorney by contacting The McGuire Law Firm. The McGuire Law Firm provides a free consultation with an estate planning attorney to discuss the questions you have regarding your estate planning matters.
