The annual exclusion alows you to transfer $14,000 each year to a recipient with no gift tax return. If you gift in excess of this amount, you will have to file a gift tax return, but should pay no taxes. Each person can gift up to a lifetime exemption of $5,250,000 without payment of gift taxes. This does, however, reduce dollar for dollar the amount you can transfer at death tax free.The simplest way to do this is to just write a check. You can also transfer property, but need to appraise it to determine what its value is.If you have other questions, feel free to call. This response does not create an attorney client relationship. The advice provided herein is generic, may not apply to your circumstances and is not to be relied upon in your actions. An attorney client relationship is created only upon execution of an engagement letter hiring me or my firm.