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I've read that estate taxes are repealed effective in 2010; should I continue to make gifts to my kids?
Whether you believe that the estate tax repeal will survive the Congressional and Presidential elections before 2010 or whether you believe the sunset provision will survive so that the estate tax is reinstated in 2011, you should continue to make gifts that qualify for the annual gift tax exclusion. The cumulative effect will reduce your taxable estate, and the beneficiaries will enjoy the future income and increase in value of the gift. The annual exclusion increases to $11,000 in 2002, and the lifetime exemption will increase to $1 million in 2002.
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