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Gifting Money to Children Without Tax Consequences
WebAug 11, 2015 · Because your child must be at least 18 years old to receive the transfer. And despite the ease of transferring the policy ownership, once it is transferred, you cannot … Web2. Watch your wealth grow. A child’s life insurance policy can accumulate cash value year after year. Your child can then access this cash value for things such as a down payment on a home, college tuition, funding a business opportunity, or providing supplemental income upon retirement when the insurance needs decrease.*. 3. Tax advantages. garage histon
UTMA & UGMA: Understanding Uniform Transfers & Gifts to …
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