A legal way to move assets from the parents to the children in order to avoid estate taxes upon the parents' death is to

Question

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The annual gift tax exclusion amount as of 2021 is $15,000 per recipient. This means that each parent can give up to $15,000 per year to each child without having to pay gift taxes. For a married couple, both spouses can give up to $15,000, resulting in a total of $30,000 per child. Therefore, the best choice is to gift up to $14,000 per year to each child, which is under the annual exclusion amount and will not trigger gift taxes or reduce the lifetime gift and estate tax exemption.

A Legal Way to Move Assets from the Parents to the Children