Bev owns approximately $13 million of assets primarily composed of a very valuable parcel of real estate and a savings account of $500,000. Bev has four grandchildren and is planning to give them each an annual gift in equal amounts. Bev can gift $56,000 in total in 2018 to her grandchildren without creating taxable gifts.

Question

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In 2018, the annual gift tax exclusion was $15,000 per recipient, allowing Bev to gift up to $60,000 in total to four grandchildren without incurring gift tax.

Bev Owns Approximately $13 Million of Assets Primarily Composed of a Very