No. of Recommendations: 10
A lot of effort by many on this board to accumulate ….but then there is the distribution…
“Actually you can give them up to $15,000,000 (lifetime gift limit) right now tax free (twice that if from both you and your wife) and file an IRS Form 709. I think, but don't know, that the gift can be in the form of a transfer of Berkshire shares to them.“
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…plug this into your favorite AI machine….
The phrase "shirtsleeves to shirtsleeves in three generations"
Gemini comes back with a good synopsis & a rule Id’e not heard of…
“The 70/90 Rule: Modern wealth management studies (like those by the Williams Group) consistently show that roughly 70% of wealthy families lose their fortune by the second generation, and a staggering 90% lose it by the third.”
ciao
