Gifting Strategies
Give generously. Plan wisely. Minimize taxes.
Why Gifting Strategies Matter
Strategic gifting during your lifetime is one of the most effective ways to reduce estate tax exposure and support loved ones while you’re still here. Whether you’re transferring cash, real estate, business interests, or funding trusts, smart gift planning helps preserve your legacy—and avoid unnecessary tax consequences.
At Wade Law Offices, we help individuals and families across California and Washington use gifting as a key component of their overall estate plan. We balance your personal goals with federal gift tax rules and ensure all documentation is legally compliant and future-proof.
How We Can Help
Our attorneys design customized gifting strategies that
Utilize the federal annual gift tax exclusion (currently $19,000 per recipient in 2025)
Leverage your lifetime gift and estate tax exemption effectively
Establish irrevocable gifting trusts for minor children, grandchildren, or other beneficiaries
Implement generation-skipping strategies where appropriate
Track gift documentation to avoid issues with future estate administration.
Coordinate with your financial and tax advisors to ensure smooth execution and reporting
Why Clients Choose Wade Law Offices
Strategic gifting. State-specific insight. Legacy protection.
- Deep understanding of federal and state tax rules, including complex gifting scenarios
- Creative, goal-focused strategies for high-net-worth families, professionals, and business owners
- Emphasis on minimizing long-term estate tax liability while maintaining flexibility and control
- Seamless integration with your broader estate plan, including wills, trusts, and succession planning
Want to gift while you’re living—and preserve more when you’re gone?
Frequently Asked Questions
Does Washington have a gift tax?
No. Washington does not impose a state-level gift tax. However, gifts can impact your Washington estate tax liability, so strategic planning is essential.
How much can I gift each year tax-free?
As of 2025, you can gift up to $19,000 per recipient annually without triggering the federal gift tax or needing to file a return (this amount is indexed and may adjust yearly).
Can I gift a home or business interest to my child?
Yes. You can transfer real estate or business interests during your lifetime, but it’s important to evaluate potential capital gains, valuation issues, and long-term tax implications.
Do I need to file a gift tax return?
You must file IRS Form 709 for gifts that exceed the annual exclusion or for certain types of non-cash gifts—even if you don’t owe tax due to the lifetime exemption.
Can gifting reduce Washington estate tax?
Yes. Because Washington taxes estates but not gifts, lifetime gifting can significantly reduce your taxable estate—especially with early, structured transfers.
What’s the difference between gifting outright and using a trust?
Outright gifts transfer assets immediately with no restrictions. Trust-based gifts allow you to set terms, protect assets, and maintain some control—especially useful for minor or high-risk beneficiaries.
We’re Ready to Help
Ready to make meaningful gifts—and protect your legacy in the process?