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Pensions and Gifting Before April 2027 | Sheffield News
Description
Starting April 2027, pensions will be taxed upon inheritance — but there’s a smarter way to protect your legacy. You can gift up to $325,000 tax-free to heirs, or even more if it’s your primary home. Married couples can combine allowances for up to $1 million. Use the annual $3,000 gift allowance (or $6,000 if unused last year) and the $250 per person allowance — keep records, and you’re golden. Plus, if you have surplus income, gifting it regularly can shield it from inheritance tax. Time to plan now before the rules change.
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