Lifetime gifts and inheritance tax treatment

https://blast-wiki.win/index.php/Lifetime_gifts_and_inheritance_tax_treatment

Understanding how lifetime gifts and inheritance tax treatment work can be tricky, since giving away money during your life often reduces what's taxed after you pass away. In many places, gifts made more than seven years before death fall outside your estate, but recent gifts might still be counted. There are also annual exemptions and allowances for small gifts or gifts between spouses, so it's worth knowing the rules to avoid unexpected tax bills.