What Is the Best Way to Leave Money to Children? – Annapolis and Towson Estate Planning
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
Unintended Kiddie Tax Change Fixed in the SECURE Act – Annapolis and Towson Estate Planning
The kiddie tax was created long ago to prevent wealthy parents from cutting their taxes by transferring a large amount of investments to their dependent children, who would be taxed at a lower rate.