Family Estate Planning Attorney in Portland, Oregon

How much can I gift to my children each year without paying taxes?

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each year you are able to gift
$18,000 per person that amount is
tax-free so you do not have to pay gift
taxes you don’t have to file a gift tax
return and that does not reduce your
overall lifetime exemption from gift or
estate
taxes that amount is adjusted
periodically by the federal government
so that’s one reason it’s important to
work with a qualified estate tax
planning attorney because we can help
advise you on changes in the law to make
sure you’re maximizing those planning
opportunities

Portland, OR estates & probate attorney Sara Winter talks about how much you can gift to your children each year without paying taxes. Each year, individuals are allowed to gift $18,000 per recipient, tax-free. This provision means there is no requirement to pay gift taxes, file a gift tax return, or reduce the individual’s overall lifetime exemption from gift or estate taxes. This gift limit is periodically adjusted by the federal government, making it beneficial to work with a qualified estate tax planning attorney who can provide up-to-date advice and help clients maximize these planning opportunities.

Most states do not impose gift tax laws. For instance, in Oregon, Washington, and Texas—one of the most tax-friendly states—there is no gift tax or limit on gift amounts. As a result, gift tax considerations are largely a federal matter.

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