[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-301986-105":53,"doc-detail-301986-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","family-financial-management-family-financial-management-gifting-a-property-transfer-tool-of-estate-planning","FAMILY FINANCIAL MANAGEMENT - FAMILY FINANCIAL MANAGEMENT - Gifting: A Property Transfer Tool of Estate Planning","","Explains how federal law treats gifts of real and personal property as an estate planning tool that can reduce donor income taxes, federal gift taxes, and potentially federal estate taxes. Covers typical estate and legacy goals, common purposes of gifts, and the importance of reviewing lifetime gifts to ensure adequate retirement support. Defines what the IRS considers a gift, who owes gift tax, fair market value, and requirements for a completed transfer. Includes federal annual gift exclusion amounts and example applications.",{"@graph":63,"@context":122},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/family-financial-management-family-financial-management-gifting-a-property-transfer-tool-of-estate-planning/301986/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/family-financial-management-family-financial-management-gifting-a-property-transfer-tool-of-estate-planning/301986.png","ImageObject",442,249,{"name":88,"@type":89},"4398046744996","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-20","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":73},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114,118],{"name":105,"@type":106,"acceptedAnswer":107},"What is the purpose of gifting in estate planning?","Question",{"text":108,"@type":109},"Gifting helps families transfer real and personal property while potentially reducing federal gift and estate tax exposure. It can also support education, family business participation, and home down payments, while allowing owners to influence outcomes before death.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What does the IRS consider a gift, and who is responsible for the gift tax?",{"text":113,"@type":109},"A gift involves transferring real or personal property during the donor’s lifetime without payment by the recipient. The federal gift tax is imposed on the donor, not the donee, when similar value is not received in exchange.",{"name":115,"@type":106,"acceptedAnswer":116},"How is the value of a gift determined and when is a gift considered completed?",{"text":117,"@type":109},"The gift’s monetary value is the fair market value of the property on the gift date, minus the fair market value of any property received in return. A gift is not completed until the donor parts with the property and control, such as by transferring title to the recipient’s name.",{"name":119,"@type":106,"acceptedAnswer":120},"What is the federal annual gift exclusion and does it require filing Form 709?",{"text":121,"@type":109},"For 2026, federal law allows annual exclusions up to $19,000 per recipient without paying federal gift tax. Gifts below this threshold generally do not require filing a United States Gift Tax Return (Form 709), and the exclusion cannot be carried over to the next year.","https://schema.org",{"og:url":78,"og:type":124,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":126,"canonical":78},"index,follow",{"doc_id":128,"site_id":56},301986,1789787738,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":88,"user_avatar":60,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":133,"file_id":134,"file_url":135,"file_type":136,"file_size":137,"view_count":73,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":138,"language":139,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":61,"update_tm":129,"read_time":73},4398046744996,"MontGuide  \nPatti Goroski  \nFAMILY FINANCIAL MANAGEMENT  \nMT199105HR, REVISED 08/26  \nGifting: A Property Transfer Tool of Estate Planning  \nBy Marsha A. Goetting, Ph.D. , CFP®, Professor and MSU Extension Family Economics Specialist; and Joel Schumacher, AFC®, MSU Extension Economics Associate Specialist, Department of Agricultural Economics and Economics  \nThis MontGuide explains how federal law allows for gifts of real and personal property that can reduce a donor’s income taxes, federal gift taxes, and possible federal estate taxes. Annual exclusions and lifetime accumulating exemptions are featured using 2026 annual and lifetime exclusion amounts.  \nA TYPICAL GOAL OF ESTATE AND LEGACY PLANNING FOR families is to ensure maximum enjoyment of property while the owners are alive, and then at death, transfer it according to their wishes. However, there are Montanans who believe they receive the greatest benefit when they gift property before their death, while they can still guide and affect the outcome. This can happen through an estate planning and legacy tool called gifting.  \nGifts can serve many purposes. They can express appreciation, give children and grandchildren an opportunity to take part in the management of a family business, help finance education, provide a down payment on a home, or pay bills.  \nGifts are an important estate and legacy planning tool for Montanans who have an estate that is above the amount that can pass tax-free ($15 million, 2026). Gifts can reduce the size of an estate, which may result in a lower federal estate tax. There also may be savings in probate expenses.  \nLifetime gifts, however, whether to a spouse, children, grandchildren or others, should be examined very carefully. Those making gifts should be sure they are not depleting their assets to the point they do not have enough for their own support during retirement.  \nWhat does the IRS consider a gift and who is responsible for gift tax?  \nGiving away property may sound simple at first, but federal gift tax law needs to be considered. The federal government imposes a gift tax to be paid by the donor upon transfers of  \nreal and personal property made during the donor’s lifetime without payment by the person who receives the gift.  \nThe receiver of the gift (donee) is not responsible for paying the gift tax. In other words, when a person transfers any property, the value is subject to federal gift taxation if the person making the gift does not receive something with similar value in exchange. Types of property that can be gifts include anything with a monetary value, such as real estate, stocks, bonds, mutual funds, certificates of deposit, equipment, livestock, or cash.  \nThe monetary value of the gift is the fair market value of the property on the date the gift was made, less the fair market value of any property received in return. The Internal Revenue Service (IRS) definition of fair market value is “the price at which the property would change hands between a willing buyer anda willing seller, neither being under compulsion to buy or to sell, and both having reasonable knowledge of all relevantfacts.”  \nExample 1: Tom gave his son land with a fair market value of $14,000,000 . Tom has made a $14,000,000 gift. If Tom decided to sell the same land to his son for $10,000, he has made a gift of $13,990,000, which is the difference between the fair market value ($14,000,000) and the amount paid by the son ($10,000).  \nThere is no gift until the transfer is complete. The person making the gift must part with the property and control of it before the property is considered as a completed gift. This can be accomplished by transferring title to the property to the name of the person who receives the gift.  \nExample 2: Mary bought a section of farmland with her personal funds. She placed the title in her name and in the name of her daughter, Julie, as joint tenants with right of survivorship. Although Julie did not contribute towards the ","cbCaikOLSX9O0flV","https://ap.wps.com/l/cbCaikOLSX9O0flV","pdf",245708,6,"English","# Introduction\n## Estate and legacy planning goals\n## Purposes and value of gifting\n## IRS view of a gift and gift tax responsibility\n# Gift valuation and completion rules\n## Fair market value definition\n## Examples of completed and incomplete gifts\n# Federal annual gift exclusion\n## 2026 annual exclusion amounts\n## Form 709 filing requirements","[{\"question\":\"What is the purpose of gifting in estate planning?\",\"answer\":\"Gifting helps families transfer real and personal property while potentially reducing federal gift and estate tax exposure. It can also support education, family business participation, and home down payments, while allowing owners to influence outcomes before death.\"},{\"question\":\"What does the IRS consider a gift, and who is responsible for the gift tax?\",\"answer\":\"A gift involves transferring real or personal property during the donor’s lifetime without payment by the recipient. The federal gift tax is imposed on the donor, not the donee, when similar value is not received in exchange.\"},{\"question\":\"How is the value of a gift determined and when is a gift considered completed?\",\"answer\":\"The gift’s monetary value is the fair market value of the property on the gift date, minus the fair market value of any property received in return. A gift is not completed until the donor parts with the property and control, such as by transferring title to the recipient’s name.\"},{\"question\":\"What is the federal annual gift exclusion and does it require filing Form 709?\",\"answer\":\"For 2026, federal law allows annual exclusions up to $19,000 per recipient without paying federal gift tax. Gifts below this threshold generally do not require filing a United States Gift Tax Return (Form 709), and the exclusion cannot be carried over to the next year.\"}]","FAMILY FINANCIAL MANAGEMENT - FAMILY FINANCIAL MANAGEMENT - Gifting: A Property Transfer Tool of Estate Planning | PDF"]