What gift taxes are associated with UESP accounts?
Funds invested in UESP are treated as a completed gift to the beneficiary for federal estate and gift tax purposes. Generally, the assets held in an account are not included as part of the account owner’s estate although the account owner remains in control of the funds. Because the funds are considered to be a completed gift, gift tax and generation-skipping transfer tax rules apply. The federal and state income gift and estate tax rules are complex. Consult your tax adviser if you have any questions.
