Only a few days left to make annual exclusion gifts for 2007

The following reminder is from Bracewell & Giuliani LLP, Year-End Wealth Transfer Opportunity – Annual Exclusion Gifts (Dec. 27, 2007):

Estate planners often recommend complex and highly technical estate planning techniques to their clients for a variety of reasons not the least of which are tax minimization and creditor protection. However, clients should not overlook a very simple yet significant way in which to transfer substantial wealth to family members through direct gifts that take full advantage of the annual exclusion from gift taxes. The annual exclusion amount is currently set at $12,000.