Legal Question in Wills and Trusts in Texas
I would like to gift currency to my children. How do I document the gift?
Asked on 10/28/09, 8:28 am
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
I would recommend opening a TUGMA account at your local bank. If the gift is over a certain amount, a gift tax return may be necessary. Check with your CPA.
Answered on 11/02/09, 8:34 am
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