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Q: We’d like to begin giving some of our estate away to our children. How can we do that without paying gift taxes?
A: According to current law you can give as much as $13,000 to each of any number of individuals without paying any gift tax or being required to file a gift tax return. You can also give up to that same amount every calendar year to as many people as you wish including each of your children, your friends, or complete strangers. $13,000 is the current annual exclusion amount.
In other words, you can gift up to