Gifting money or property can be generous—but if it’s done incorrectly, it may trigger tax issues or create complications with estate planning and Medicaid eligibility. Attorney Maxx Forti joined to explain what people should know before making a gift.
The conversation covers annual and lifetime gifting limits, common types of gifts, and when gift taxes may apply. Viewers also learn how gifting works between spouses, how it can impact Medicaid planning, and why proper documentation and execution are critical when gifting through an estate plan.
Understanding the rules ahead of time can help families avoid penalties, protect assets, and ensure gifts are handled as intended.