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Gift Exclusion

Navigation:  Home > Probate, Trusts, and Estate Law >Gift Exclusion

 

Although the federal government anticipated people trying to give all their property away before they die, thus avoiding death taxes, the did allow an exclusion. If you hand out gifts of more than $11,000 a year, those gifts are taxable. However, you are free to give make gifts of less than $11,000 each year without paying taxes. Thus, a couple can give out $22,000 a year to a child or a relative. Thus, in 5 years, a couple could successfully give away $110,000 without having to pay taxes on it.

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