I’m 62 and worth millions: how can I give more to my kids without getting slammed on taxes?

1 hour ago 1

John Seetoo

Tue, July 14, 2026 astatine 8:31 AM CDT 5 min read

Benjamin Franklin is celebrated for galore things, including this observation: Our caller Constitution is present established, and has an quality that promises permanency; but successful this satellite thing tin beryllium said to beryllium certain, but death and taxes.

Death and taxes are 2 dreaded topics that spell manus successful hand. Their confiscatory premise is simply a continual root of perceived injustice and originative readying arsenic families hunt for ineligible ways to transportation much wealthiness without authorities intervention. Gift taxes were created by Congress and the IRS to discourage radical from giving distant assets earlier decease successful bid to sidestep property taxes. Those property levies, sometimes called Death Taxes, use to the full worthy of an existing property erstwhile the proprietor passes.

A light-skinned older antheral with achromatic hairsbreadth and a beard, wearing a airy grey t-shirt, looks straight guardant with a wide-eyed, somewhat amazed expression. He is centered against a achromatic background, surrounded by galore greenish and achromatic $100 bills falling and floating astir him, creating a vortex-like effect of money.

Dave Ramsey hosts a syndicated vigor amusement devoted to idiosyncratic fiscal advice. He precocious addressed the taxable of gifting erstwhile a caller wanted to springiness a ample sum to his son-in-law for increasing a concern without triggering acquisition taxes.

The Caller's Dilemma

Dave Ramsey's syndicated vigor amusement regularly gives fiscal tips to listeners seeking guidance.

A 62-year-old with a nett worthy of $10 cardinal to $12 cardinal wants to acquisition wealth to his son-in-law for a philharmonic instrumentality repair business.
He projected treating the archetypal funds (roughly $300,000) arsenic a spot oregon owe indebtedness note, allowing the son-in-law to acquisition oregon rent a larger store space.
Subsequent currency gifts nether the existent $19,000 yearly threshold ($38,000 for joined couples utilizing gift-splitting) could past beryllium utilized to wage down the indebtedness by installments, avoiding contiguous taxation reporting.

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Ramsey's Advice

Ramsey concurred with the caller's program and offered an alternate worthy considering. His proposition centered connected utilizing a information of the national beingness property taxation exemption and declaring the $300,000 against that cumulative beingness total. Under the One Big Beautiful Bill Act (OBBBA), signed into instrumentality connected July 4, 2025, that exemption is permanently acceptable astatine $15 cardinal per idiosyncratic (or $30 cardinal for joined couples) opening January 1, 2026. The 2025 beingness exemption presently stands astatine $13.99 cardinal per individual.

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