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Does Gift Tax Affect Me?

In this Elder Law Minute, Wes Coulson discusses another topic from the video series Asset Preservation Planning and explains the gift tax limits. | Coulson Elder Law

One of the cornerstones of asset preservation planning is getting assets out of your name and out of harms way, which often leads to the question, “Will I have to pay gift tax?” This is a valid question. As part of the planning, assets may be moved into a trust, which is a great way […]

Will I have to pay gift tax when I put assets into an asset preservation trust?

Wes Coulson, IL and MO elder law attorney, explains why putting assets into an asset preservation trust will not trigger a gift tax liability. l Coulson Elder Law

One of the questions that we often get when we talk about the details of asset preservation trusts is whether or not putting your assets into one, to protect your life savings from long-term care costs, will require you to pay gift tax on it. When people think about gift taxes, they usually just think about […]

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Recent Posts

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  • What an Illinois Medicaid Applicant Can and Cannot Keep: Life Estates
  • What an Illinois Medicaid Applicant Can and Cannot Keep: Money & Other Assets Held in Trusts

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774 Sunset Blvd Suite 200
O'Fallon, IL 62269
IL: (618) 632-7000
MO: (314) 567-9292

415 W. Virginia Ave.
Effingham, IL 62401
(217) 330-5500

Fax: (618) 632-7333
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Front office building of Coulson Elder Law

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774 Sunset Blvd Suite 200
O'Fallon, IL 62269
IL: (618) 632-7000
MO: (314) 567-9292

415 W. Virginia Ave.
Effingham, IL 62401
(217) 330-5500

Fax: (618) 632-7333
Send us an email

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