If you have not exceeded your lifetime exemption limit, you would not have to pay gift taxes. However, you will still need to file that gift tax return or face penalties for not filing.
If you have not given the money yet, you should talk with your attorney to see if there are other consequences to either you or the recipients of the gift.
Probably not, but you need to file a 709 US Gift Tax Return. Please talk to your tax and estate attorney.
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