Annual Exclusion Gifts, Crummey Powers: ILITs, Wealth Transfer and Why it Still Matters with Large Exemptions

1. The annual exclusion permits $15,000 per person gifts.
2. Does it make sense to do this with such high exemptions?
3. Asset protection benefits might help as the gifts are small and made over a period of time.
4. Use to set up funds for eduction.
5. The law may change.
6. For large family, significant wealth can be moved
7. You can be a discretionary beneficiary of a Crummey Trust.
8. What to do about Crummey powers in existing trusts (meet the requirement of the trust instrument).