While a lot of divorces these days involve dividing debt rather than assets, there are still a few marital estates left with wealth and complexity.

When the parties get stuck on one item, like jewelry or a car or cash, one idea for breaking the impasse is to make a gift to the children.  This can be either outright or through a will or a trust or a contractual provision to be executed at some time in the future.

For 2009, you can give up to $13,000, or $26,000 for a married couple, to each recipient without incurring the federal gift tax

Tags: Children, Divorce, gift, impasse, married, tax

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This entry was posted on Tuesday, March 17th, 2009 at 3:02 pm and is filed under Children, Divorce, Divorce Advice, Property, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.