gift tax

Gift tax refers to a tax that may apply when you give money, property, or other valuable assets to someone without receiving equal value in return. It’s typically the giver’s responsibility and often depends on annual and lifetime exemption limits.

Grandma signing a quitclaim deed document

Quitclaim Deeds – Why Grandma’s Well-Intentioned Signature Could Trigger Taxes

Estate Planning, Family Law, Personal Finance, Real Estate, Tax Planning / Jack Gilbert

A quitclaim deed can trigger federal gift tax reporting once the value transferred exceeds the annual exclusion ($19,000 per recipient in 2025). Because it gives no title warranties, it can also create future title and capital gains problems when the home is sold. This article explains how quitclaim deeds work, the tax risks, and safer […]

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What is a gift tax?

Elder Law, Estate Planning, Tax Law / Jack Gilbert

Gift tax is a federal tax that may apply when you give someone more than the annual exclusion amount—$18,000 per recipient in 2024—though most people owe $0 because of the lifetime exemption. In many cases, you still must file IRS Form 709 to report gifts above the limit, even if no tax is due. This

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