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: Folklore is a broad field of study that concerns itself with the ways in which people make meaning in their lives. There are many definitions of folklore; one of the definitions we like here at Mizzou is Dan Ben Amosâs: Folklore is artistic communication in small groups. A sampling of folklore definitions through the years: