Tag Archives: IRC Sec. 2503(c) trust

Outright gifts to minors pose the fewest tax problems, but may not always accord with the donor’s desires. While an indirect gift may be made to a legal guardian who manages the property for the child, court appointment and annual accounts to the court are required. Moreover, indirect gifts, to qualify for the annual exclusion, must comply with the Crummey rules which though less onerous than generally perceived do rise to the level of a nuisance. Continue reading →