Should You Spend It All or Leave Some for the Kids?

The Street.com

You can't take it with you, but you don't have to leave it behind, either. A report from HSBC finds that working Americans don't necessarily want to leave their earnings to heirs when they die. “When you transfer your assets during your life, you have a $14,000 annual federal tax exemption and you have a $5.4 million lifetime gift tax exemption,” says James Grimaldi, a certified public accountant and partner at Citrin Cooperman in New York.