Legal Question in Wills and Trusts in Ohio

Legal gifts from parents to children

How much cash each year can parents give to their adult children without penalty either for the parents or the children to reduce loss upon the death of the parents?


Asked on 11/27/06, 9:58 am

1 Answer from Attorneys
Frank Rozanc Frank J. Rozanc, Esq.

Re: Legal gifts from parents to children

You can give up to $12000 per person per year without gift tax consequences.

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Answered on 11/27/06, 4:58 pm


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