Never Give Your Kids More Than This After 65 (Most Don't Know)

How much money can seniors give their kids and grandkids after 65? Retirees on Social Security and fixed income break 7 gift rules most don't know: the IRS annual gift tax exclusion ($19,000) and Form 709, the $15 million lifetime exemption, the Medicaid 5-year look-back and nursing home penalty, gifting your house and losing the stepped-up basis (capital gains tax), adding a child to your joint bank account, IRS imputed interest on family loans, 529 plan five-year superfunding, and the unlimited tuition and medical bills exclusion. Protect your savings, home, inheritance and retirement income. Get The Senior EXEMPT Playbook (the guide from the QR code in this video): every bill you are legally allowed to stop paying after 65, in one guide: https://senior-exempt-playbook.netlify.app Chapters: 0:00 How much can you give your kids 1:44 The number the IRS is watching 3:57 Medicaid has no safe number 7:12 Giving your kids the house 9:36 Adding your child to your bank account 11:24 The loan the IRS calls a gift 13:11 The five year college shortcut 14:49 The gift the IRS never counts 17:11 Your 7-step checklist DISCLAIMER: This video is for general educational and informational purposes only and is not legal, tax, Medicaid, or financial advice. Gift tax, Medicaid, and property rules vary by state and change, and every situation depends on its own facts. Always confirm your situation with the IRS, your state Medicaid office, an elder law attorney, or a licensed tax professional before acting. #SocialSecurity #SeniorFinance #RetirementIncome