Currently, each year you can give $13,000 per child (annual donee exclusion) and if you are married you can give $26,000 with a so-called spousal joinder. In addition, you can give an unlimited amount for education and medical costs, but such payments must meet certain requirements such as the payments being made directly to the university or school or medical insitution.
Also, you have a $1,000,000 lifetime exemption that can be utilized.
However, be aware that gifts in trust must be carefully set up to take advantage of the annual donee exclusion and lifetime exemption.
Hope this helps.
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