FIFTH, the annual gift tax exclusion amount has increased to $13,000 effective in 2009. This is the amount you can give to any person each year without it being considered a taxable gift. Gifts of the annual exclusion amount to children, grandchildren and other beneficiaries are often recommended as an excellent way to reduce your taxable estate. Everyone is always looking for ways to preserve and protect their assets. Through this exclusion amount and other estate planning tools, you can be on top of keeping what you have earned for those who matter most in your life.
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