From Trusts to Gifts: How can grandparents effectively leave assets to grandchildren?

From Trusts to Gifts: How can grandparents effectively leave assets to grandchildren?

In India, where family ties are deeply rooted, it’s common for grandparents to think about the future financial well-being of their grandchildren. This cultural tradition stems from a sense of legacy, love, and responsibility. Grandparents, having lived through various financial ups and downs, often want to secure a stable foundation for the next generation. Beyond … Read more

What are the tax implications of receiving a gift?

What are the tax implications of receiving a gift?

No, you aren’t. However, if the gift were from a non-relative, let’s say a friend, you would’ve needed to pay taxes to be on the right side of the law. When it comesto the tax treatment of gifts, the rules are pretty specific. Gifts received from relatives are fully exempt. Gifts from non-relatives up to … Read more