Key Tradeoffs
- Gifting: Direct gifts follow the annual exclusion limit. However, paying for the wedding directly to vendors is not subject to gift tax limits, but it reduces your immediate liquidity.
Child’s Marriage
Integrating a new family member involves legal and financial alignment. Ensure your estate and financial plans reflect this major life event.
1
Legal Documentation Review
Update wills, trusts, and powers of attorney. Decisions made now prevent ambiguity later.
2
3
Beneficiary Updates
Review beneficiary designations on insurance and retirement accounts. These supersede wills, so accuracy is critical.
4
Family Estate Planning
Discuss prenuptial agreements or trust structures to protect family assets and ensure legacy goals are met.
Key Tradeoffs
Professional Consultation
Questions for your Professional
- Should I pay vendors directly to avoid gift tax limitations?
- How does this marriage affect my estate tax exemption portability?
- Do I need to update my trust distribution provisions?
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