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What is the total amount of estate

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Reference no: EM132348487

Barry and his wife Mary have accumulated over $3.5 million during their 50 years of marriage. They have three children and five grandchildren.

1.) How much money can they gift to their children in 2017 without any gift tax liability?

2.) How much money can Barry and Mary gift to their grandchildren in 2017 without any gift tax liability?

3.) What is the total amount of estate removed from Barry and Mary's estate in 2017?

Reference no: EM132348487

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