Are there techniques available to reduce or avoid gift taxes?
Giving gifts to charity before or after your death will allow you to reduce your taxable estate. Similarly, with the hike in the unified credit dollar amount, more lifetime transfers of property can be gifted allowing the value of the gifts to appreciate in the hands of the recipient. Tax planning is important and we urge you to visit our section on "Estate Planning" or an attorney in our Lawyer Directory for the methods available to minimize or avoid the Estate and Gift Tax liability.
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