"Gift taxes were created by Congress and the IRS to serve as a deterrent to those seeking to give funds to family before their demise, when estate taxes would apply."
"Ramsey concurred with and preferred the caller's plan to treat the initial funds as a loan, which helps avoid triggering gift taxes."
"Using part of the Federal estate tax exemption by declaring the $300,000 as part of the exemption can be a strategic move to minimize future estate tax liability."
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