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Probate & Estate Planning

Las Vegas Law Firm > Probate & Estate Planning

Gift Tax Exclusions

The Internal Revenue Service (IRS) has defined a gift as “Any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money's worth) is not received in return.” For the purposes of income and inheritance taxes, courts have defined gifts as “proceeds from a detached and disinterested generosity.”...

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