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Vermont/gift tax vs inheritance

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  • Vermont/gift tax vs inheritance

    Scenario... 29 yr old male, recent diagnosis Non Hodgkins Lymphnoma...significant estate, in the neighborhood of 1.7M... no immediate family/dependants/heirs...but a few friends he wishes to leave the money to...
    Question is... with regard to inheritance tax vs gift tax, would it be better now, as treatment is not an option, and end of life is near, to begin writing those checks, and exhaust the funds, or leave it to inherit in the will?

    The receipients here are not necessarily VT residents.
    Last edited by CAIW; 06-17-2011, 11:11 AM.

  • #2
    You might start with IRS Publication 950, Introduction to Estate and Gift Taxes.
    "Reality is that which, when you stop believing in it, doesn't go away".
    Philip K. **** (1928-1982)

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    • #3
      Thank you...very helpful.

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