how much money can you give to your wife without tax
That means that in 2016 you can bequeath up to $5 million dollars to friends or relatives and an additional $5 million to your spouse tax-free. In 2017, the federal gift tax and estate tax will be combined for a total exclusion of $5 million. If you give away money, that will lower your lifetime taxable estate. Gifts that exceed the yearly exclusion also lower your overall estate tax exemption. Based on the example above, the same gifts would lower your lifetime estate tax exemption by $24,000. Gifts under $13,000 do not affect your estate tax exemption.