Building Your Success

Sophisticated Gift Giving

Working With The IRS (So Our Client Didn’t Have To)

A Cornerstone client came to us looking to gift a large amount of wealth to their children. We set up a sophisticated gifting mechanism, giving the family the ability to leverage the gifting of assets while providing them with over a million dollars of tax savings. Several years later the IRS chose to audit their gift-tax returns. We took on the administrative burden of compiling and collating the required records per the IRS letter including some 5,000 pages of documentation. After reviewing the work we supplied, the IRS issued a “no change order”, permanently concluding the matter and saving the client close to $20,000 in attorney fees while preserving millions of dollars of gifted assets.

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