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Prepare memo advising Camila which property to give to Diego

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Problem - Lifetime gifting strategy. Camila Ortiz has accumulated substantial wealth and plans to gift some of her wealth to her son Diego. She is considering two assets: a beach house, which cost $300,000 twenty years ago and now has a fair market value of $750,000, and shares in three mutual funds, which cost her $550,000 five years ago and now have a fair market value of $750,000. Prepare a memo advising Camila which property to give to Diego. In your memo, consider two scenarios: one where Diego sells the property and one where he does not.

Reference no: EM132696065

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