What is the name of your state (only U.S. law)? OHIO
My mother currently lives in Europe and has dual citizenship. She has a bank account here in her name & joint with us (her children). She wants money sent to her to cover her expenses. My question is; is there a limit as to how much can be sent to her if the account is in her name. My intent was to make the check out in her name.
I understand the $13K gift tax law, but this is her money. So, is there a limit or maximun that can be sent to her?
Thank you,
My mother currently lives in Europe and has dual citizenship. She has a bank account here in her name & joint with us (her children). She wants money sent to her to cover her expenses. My question is; is there a limit as to how much can be sent to her if the account is in her name. My intent was to make the check out in her name.
I understand the $13K gift tax law, but this is her money. So, is there a limit or maximun that can be sent to her?
Thank you,