There is a way to receive a partial deduction for money that will eventually go to your children.
The answer ultimately depends on how the management fees are being paid.
Did you know it’s possible to make a gift and still retain some control?
And what should you do if you have forgotten to file Form 8606?
Lowering your 2014 tax bill requires careful planning, which should be started early. In this circumstance, get ready to wait.