Good Morning,

Client is exec and POA of parents Estate and is one of six heirs who all get along well. Estate is a couple 100K, and client wants to put into joint with he and remaining living parent and distribute cash as CDs come due.(Everything is in CDs and tow bank accounts)

What are limits and rules. I hear $13K er year? are their any forms to be aware of or detriments to this proceedure? Gift tax? Also heard about possible form due to Patriot Act to be filed?

Thanks in advance.