Incorporating lifetime gifts to your children and grandchildren into your estate plan can be a thoughtful way to transfer wealth while reducing the overall tax burden on your estate.

Incorporating lifetime gifts to your children and grandchildren into your estate plan can be a thoughtful way to transfer wealth while reducing the overall tax burden on your estate. By giving during your lifetime, you can take advantage of the annual gift tax exclusion, which allows you to gift up to a set amount per recipient each year ($19,000 per person per year for gifts made in 2025) without triggering gift taxes or using up your lifetime estate tax exemption. These gifts can help fund education, assist with purchasing a home, or support other meaningful life goals, providing an opportunity to witness the positive impact of your generosity. Additionally, gifts assets that may appreciate in value, such as stocks or real estate, can remove future growth from your taxable estate. Consult with a financial or estate planning professional to ensure your gifts align with your long-term financial goals and maximize the benefit for your loved ones.

If you have questions about making lifetime gifts as part of your estate plan, or any other aspect of estate planning, give us a call at 253.858.5434 to make an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.