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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
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I recently received the proceeds from a life insurance

Customer Question

I recently received the proceeds from a life insurance policy. I would like to give part of the proceeds to my two children. What is the maximum amount I can give each child during this calendar year?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Infolawyer replied 1 year ago.

You can give as much as you want per child.

If you mean max for estate tax purposes, the annual gift exclusion is $14,000 per year per recipient.

Expert:  Infolawyer replied 1 year ago.

Kindly let me know if the answer is clear and acceptable.

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