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 simple definition of a myth is 'a story handed down through history, often through oral tradition, that explains or gives value to the unknown'. Myths are often stories told by a particular people such as Indians, Egyptians, Greeks, Romans, and others. They are especially linked to religious beliefs and rituals.