Going The Extra Mile With Grats - Reflections on Optimal Planning Strategies
Steve Akers
24 PROBATE& PROPERTY NOVEMBER/DECEMBER 2004 The basic strategy for making gifts, particularly in light of the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001, Pub. L. No. 107–16, 115 Stat. 38 (2001), is to make gifts without generattin a federal gift tax. Adonor can accomplish this by using annual exclusiio gifts (currently 1,000 per donor, per donee), medical/tuition exclusion gifts, and aggregate lifetime gifts withii the donor’s lifetime “applicable exclusion amount,”...