I have inherited a reasonable amount of money,How much can I give my children?

Other answer:

Victor:
What I'd do, immediately, is see a financial advisor. She or he will know what the tax and other implications are for gifts, and how to set up trust funds to give them more later in their lives rather than all at once, when they may be young and stupid enough to spend it foolishly.

And they can help you invest your inheritance in a way that moves toward your financial goals for yourself and your kids, no matter what they are.

My husband's father did this, a trust fund with payouts at age 25 and again at 35, and what a difference it made in his kids' lives! Had they been given large amounts earlier, they'd not have appreciated the link between hard work and the satisfaction of earning. Instead, both times they spent the money wisely on things which were smart investments (education, house, like that).

We've set up something similar for our kids, who are already young adults.

Amy:
what i'd do, immediately, is see a financial advisor… she or he shall know what the tax and other implications are for gifts, and how to set up trust funds to give them more later in their lives rather than all at once, when they may be young and stupid enough to spend it foolishly…

and they can help you invest your inheritance in a way that moves toward your financial goals for yourself and your kids, no matter what they are…

my husband's father did this, a trust fund with payouts at age 25 and again at 35, and what a difference it made in his kids' lives! had they been given large amounts earlier, they'd not have appreciated the link between hard work and the satisfaction of earning… instead, both times they spent the money wisely on things which were smart investments (education, house, like that)…

we've set up something similar for our kids, who are already young adults…

curtisports2:
You may give each individual you make a gift to up to $14,000 per year without triggering the requirement to file a gift tax return. The yearly limit has nothing to do with whether or not your estate will have to pay estate tax after you are gone. For federal purposes, as long as the value of your estate plus the total of gifts you reported on gift tax returns is $5.2 million (approximately) or less, there won't be any estate tax. State limits are lower.
SumDude:
What age? Still in k-12 school, consider Series EE government bonds with you as co-owner. If the child later does not deserve the money (drug addict, etc) You can cash in the bonds. If you distribute less than $14,000.01 a year, there are no reporting requirements, and none of the gift is added back to your estate to possibly be taxed.

My father passed out $ from time to time, and we used it for extra-ordinary needs ( a new roof, a new sewer system, etc). [Sometimes a good vacation is valuable, allowing one to recharge their batteries and go back to work with energy.]

Donald B:
You can give $14,000 a year to each child without having to pay a gift tax.
Politically Correct:
Do not give your children money. They will spend it and ask for more. Children need to stand on their own two feet. Consider paying off their student loans for them.
Ben:
do not give your children money… they shall spend it and ask for more… children need to stand on their own two feet… consider paying off their student loans for them…
wg0z:
All of it, if you so desire, but wrt tax avoidance creating a trust might be best.
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