Estate and Gift Taxes
The maximum gift without tax that you may give in 2011 and 2012 to one individual is $ 13,000.
If a person gifts more than $ 13,000 to an individual, this is called a lifetime gift and regulations must be followed.
There’s a $5 million unified federal estate and gift tax exemption for individuals who died or made gifts in 2011.
There’s a $5.12 million unified federal estate and gift tax exemption for individuals who died or made gifts in 2012.