Question regarding gifting children money. My wife and I have one child who will turn 2 later this year.
To my understanding, I can gift my child 18k per year and as long as I don't exceed the lifetime threshold of 13.61 million.
We've also already set up a 529 to cover her education.
Questions are:
1. Is there an age minimum to which I can start gifting her money?
2. Would I have to open up a custodial type bank account for my child to received these funds?
2. With said gifted money. Can it be invested and through which route?
Thanks all.
To my understanding, I can gift my child 18k per year and as long as I don't exceed the lifetime threshold of 13.61 million.
We've also already set up a 529 to cover her education.
Questions are:
1. Is there an age minimum to which I can start gifting her money?
2. Would I have to open up a custodial type bank account for my child to received these funds?
2. With said gifted money. Can it be invested and through which route?
Thanks all.
Statistics: Posted by EMPAEinstein — Mon Jul 15, 2024 3:07 am — Replies 3 — Views 107