3-year Rule

From: "Harold R. Justice" <hjustice@concentric.net>
Subject: 3-year Rule
Date: Tue, 01 Sep 1998 18:17:53 -0500

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I have been told anyone can give anyone else up to $10,000 per year with no gift or
estate tax consequenses. However, the accountant doing my father-in-law's estate tax
forms says  any gift, even if it is under $10,000, that was given within 3 years of
death, must be included in the gross estate. Is this correct. Please site an IRS
publication to support your answer.

Thanks,

Harold


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