7 Year Gifting Rule

Did you know there was a 7 year gifting rule ?  You can give away absolutely as much as you like when you like, there is nothing to stop you.  If you live for 7 years after you have given a gift the value disappears from your estate.  Should you not live for 7 years the government will look at the gift you have given and they will decide whether or not you have to pay tax.  If you want to know how that works and whether or not it affects a gift you’ve given just give us a call.