Here’s How to Shield Your Inherited Items


Gifting family heirlooms is like passing down a piece of history, like a secret handshake through generations. Grandma’s chain is not just a beauty, but it’s a story waiting to be told. The catch though, without clever planning, your family might need to shell out bucks for inheritance taxes to enjoy these valuables.

Why not Gift it Now?

Usually, heirlooms, like history assignments, are passed down after you – well, kick the bucket. But why not change the rules? Gift it while you’re around to see the joy it brings. There are tax rules to this, but here’s the twist. If your gift doesn’t cross $17,000 for an individual ($34,000 for couples), annually, it’s just as if gift taxes don’t exist!

Take Care of Your Heirlooms

Heirlooms are not forever, like diamonds. Time can beat them up. Clothes, ornaments, furniture, textiles – all need to be safeguarded if you’re not ready to part with them just yet. Wrap your ornaments with tender love and care – some bubble wrap and a sturdy box should do the trick! Antique rugs and clothes need special attention. Think of it like caring for a baby, with the right tools – cane beaters, rug shampoos and a cool, dry place out of sunny harm – they’ll be okay.

Make a List

Inheritance taxes are like uninvited birthday party guests in six U.S. states – Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania. Keep a clear map of all your heirlooms and their storages. This way, your family can navigate through inheritance much smoother. Even if you’re in another state not on the list, inventories are still cool as they guide your family to reap the max from their inheritance.

Don’t Forget Estate Planning

This one’s a biggie! Estate planning is as important as studying before finals. It organizes the distribution of your estate, avoiding detours like legal problems and tax hiccups. Get an expert guide, like a Bradenton estate planning lawyer, who can lead you out of the estate maze, keeping your assets safe and respecting your wishes.

If you take a step with care, you can shield your heirlooms, dodge any taxing arrows, and ensure your loved ones get what matters – the gift of your memories. Invest time in planning now, save yourself a headache later. And, most importantly, let your keepsakes be the legacy that your future generations treasure.


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