Legal Question in Tax Law in California

How do you use the lifetime $5 million gift tax exemption? Can someone just write

a check for $5 million to another person as a life time estate gift?


Asked on 5/13/11, 9:29 am

1 Answer from Attorneys
Mayer Nazarian Nazarian Law and Tax Group

In addition to the act of giving the gift, you must also file a gift tax return. However, there are much more effective ways to use the full exemption and maximize its overall impact on your estate. Before you cut that check, you should consult with a tax or estate planning attorney.

Feel free to contact our offices to learn more.

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Answered on 5/13/11, 9:41 am


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