Gift Tax

Changes in the estate tax law have prompted many high-net-worth individuals to review their estate plans, and one way of reducing estate taxes, would be to make lifetime gifts.

For example, you could make an unlimited number of done exclusion gifts, completely tax free, thereby reducing your gross estate. However, no individual recipient can receive in a particular year more than $14,000. If married, a couple can combine their annual exclusions and give away $28,000 tax free.

Another example would be to transfer an individual’s home to a trust. This would remove from the individual’s estate, both the value of the residence and its appreciation. The trust would further stipulate the right of the individual to use the property for the term of the trust. However, the individual must live through the term of the trust, or else the entire value of the residence will be pulled back into the individual’s estate.

If you want to learn more about gift tax strategies, including the above, you should contact our team of specialists at Adeptus Partners, LLC.

Related Media


A prime example of gift tax…

‘From saving for college to retirement, planning for many different goals can feel overwhelming at times.  Every goal has a price tag; the sooner you narrow down, the sooner you can plan, save and make it come true.

For college, it may mean opening a 529-college savings account to get the wheels in motion’ – Money Magazine



My child’s 529 college savings account will hurt their chances of getting financial aid


“…your savings will affect the amount of money you’ll be expected to cough up for tuition. But the impact will be minimal.

College savings accounts don’t count nearly as much as income for financial-aid purposes, says Joe Hurley, founder of ‘It’s the income that you report that can have a big impact on your aid eligibility.

In the federal-aid formula, 22%- 47% of parental income can be earmarked to pay for college expenses (what’s called your ‘expected family contribution,’ or EFC).  College savings accounts are considered an asset and are asses at a maximum rate of 5.64%. SO for every $1,000 you’ve socked away in you 529, the most your EFC could increase is roughly $56.” –Money Magazine

–Learn More About 529 Plans From the SEC –

Professionals at Adeptus who Specialize
in Gift Tax

Larry Gitlitz

Senior Partner, CPA

Cheryl A. Bessin-Beckwith

Accountant & Advisor

Robert N. Metkiff

Partner Emeritus, CPA


Adeptus Partners LLC