A gift of a future interest doesn't qualify for the unlimited marital deduction, the $14,000 annual exclusion from gift taxes for gifts made to non-spouses, or the $148,000 annual exclusion from gifts taxes for gifts made to non-citizen spouses. In other words, it's always taxable.
A legend is a larger-than-life story that gets passed down from one generation to the next â like the legends of Beowulf, Robin Hood, or even Big Foot. The Latin word was originally limited to written stories, but in English, legend lost that limitation.
A legend is a semi-true story, which has been passed on from person-to-person and has important meaning or symbolism for the culture in which it originates. A legend usually includes an element of truth, or is based on historic facts, but with 'mythical qualities'.olktales comprise fables, fairy tales, old legends and even 'urban legends'. Again, some tales may have been based on a partial truth that has been lost or hidden over time. It is difficult to categorize folktales precisely because they fit into many categories.