It's wedding season!
Yes, it's that time again. Although weddings do happen all throughout the year, the traditional June wedding remains very popular. Do you know a couple about to take the plunge?
These days, many couples are choosing not to "register" for gifts. There are many reasons for this. Some couples simply don't feel comfortable with the idea of a registry, some already have what they need in terms of traditional household items, and many prefer financial gifts to help them finance a honeymoon, or the purchase of a home or car.
One thing is for sure - a financial gift is almost always welcome and appreciated by a young couple. If you're considering making a financial gift, perhaps you're wondering what amount is appropriate. While there is no hard-and-fast "correct" amount, Mint.com recommends $100 as a "typical" gift, a minimum gift amount of $50 for a mere "acquaintance" or neighbor, and up to $200 for a close friend or relative.
If you know the couple and are helping them plan, you might suggest that they look into some non-traditional registries that can help them collect monetary gifts toward a single goal. These days there are honeymoon registries, car registries, and even registries that help them save for a down payment on a home.
Considering a larger financial gift? If you have questions about potential tax implications, please give us a call. We are here for you, every season.
Check out our website to find your advisor's contact information: midwestoneinvestmentservices.com
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.