Many individuals are unaware that direct payments of tuition to an educational institution on behalf of a family member or other individual are exempt from gift tax regardless of whether or not such payment exceeds the current annual gift tax exclusion amount of $14,000.00.

In addition, direct payments of tuition will not reduce your lifetime exclusion amount. Gifts of direct payments may be more appropriate for certain individuals rather than establishing a 529 education plan or educational trust.

Laura Morrison Trujillo
ltrujillo@mclawfirm.com
480-994-2000

 

 

 

ANNOUNCEMENT

 

Effective January 6, 2020, attorneys Michael W. Margrave, Michael L. Kitchen, and Patrick J. Van Zanen, as well as paralegals Brittany Crane and Mallory Rasmussen, will join Sacks Tierney P A at their office located at 4250 N. Drinkwater Boulevard, Scottsdale, AZ  85251. Their new contact information is:

Michael W. Margrave    
direct line: 480-425-2606
fax: 480-425-4906
michael.margrave@sackstierney.com

Michael L. Kitchen
direct line: 480-425-2619
fax: 480-425-4919
michael.kitchen@sackstierney.com

Patrick J. Van Zanen    
direct line: 480-425-2623
fax: 480-425-4923
patrick.vanzanen@sackstierney.com

Brittany Crane
direct line: 480-425-2627
fax: 480-425-4927
brittany.crane@sackstierney.com

Mallory Rasmussen
direct line: 480-425-2629
fax: 480-425-4929
mallory.rasmussen@sackstierney.com

We hope to continue serving your needs at our new home with Sacks Tierney P.A. beginning January 6, 2020