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Ecumenist Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-27-06 11:39 PM
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Is there anyone here who has ANY idea
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how a parent can take money out of a trust and give it to a child who'll be sole heir to help with the building of a house? The amount is at least 50K, although the parent wants to give up to 300K. How can this be done without incurring the wrath of the IRS? The Parent, my uncle, has come up with "lending " this amount to my cousin with a repayment due in 50 years or some FAR OFF period of time. Any ideas how to accomplish this?
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