How can I remove assets from my estate without being subject to estate or gift taxes?
Video Transcript
Individuals have certain gift tax and estate tax exemptions that apply. For example, each individual has a fourteen thousand dollar annual exclusion in terms of gifting per person per year. If you’re married, you and a spouse can transfer twenty-eight thousand dollars to any individual that you choose. You, also, have a lifetime gift tax exemption adjusted for inflation, which is currently about five and a have million dollars. Anything not used during lifetime can be used at death.
