Gift splitting
A technique used to avoid a gift tax in which a large sum of money to be given by two parents to a child is halved and given to the child separately e.g. a husband and wife each donate $10,000 to their child rather than one parent donating $20,000 to that child. |
Similar financial terms
Incomplete GiftWhere the settlor has reserved the right to add or delete beneficiaries to the trust, it is construed as an incomplete gift.
