What About Gifting Money?
Gifting During Your Life
A lifetime gifting program allows you to avoid gift, estate and generation-skipping transfer tax on transferred assets.
Under the Internal Revenue, Code, you can transfer up to $16,000 per year, per person, to anyone without incurring gift tax or generation-skipping transfer tax. A married couple can give twice that amount, or $32,000 per person, per year.
With a lifetime giving program, you transfer this amount annually to the individuals of your choice, typically children, grandchildren and other close family members.
![male couple with son](https://i0.wp.com/www.legacypreservationlaw.com/wp-content/uploads/2017/02/male-couple-with-son.jpg?resize=1080%2C721&ssl=1)