John Hancock Life Insurance

Gift-Splitting Where the Spouse Is a Beneficiary with Bruce Steiner aired May 07, 2013

A husband and wife can choose to treat gifts to third parties as if made one-half by each spouse for gift tax purposes, as long as consent is given on the gift tax return. This concept is known as gift splitting. Gift splitting can often be over simplified in the planning process. For instance, it is not always apparent whether gift-splitting is available for gifts to a trust of which the donor`s spouse is a beneficiary. Listen in as Kevin Blanton, AVP and Associate Counsel of JH Advanced Markets Group, and Bruce D. Steiner, Esq. of Kleinberg, Kaplan, Wolff & Cohen, P.C in New York discuss where the gift splitting ability may be used and hear about the limitations that must be observed.

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