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. Â 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. Â 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. Â The McGuire Law Firm provides a free consultation with an estate planning attorney to discuss the questions you have regarding your estate planning matters.