Question: Greg is 67 years old and would like to transfer some of his assets to his adult son, Marty. Greg does not want to incur
Greg is 67 years old and would like to transfer some of his assets to his adult son, Marty. Greg does not want to incur any gift tax liability, and also needs some cash flow at least until he turns 70.5. What transfer tax planning vehicles are available to enable Greg to fulfill his objectives, and how would they work? Please be specific in discussing the mechanics of the technique, as well as the transfer tax and income tax implications.
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