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Posted by Seth on July 13, 2007, 5:18 am
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> I own a small piece of real estate that I would like to gift
> to a grandchild. It has a value of $19,000 and the property
> is held in j/t and we could take advantage of the gift tax
> exemption. Is there a way I could use a trust for minors? I
> have heard I may have a problem with a gift of future
> interest (no exemption).
If the property is jointly owned (you and spouse), you can
gift it without gift taxes. It technically goes to
something like "Mother, custodian for Child, under the State
Uniform Gifts to Minors Act."
Seth
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