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More problems for Lou Pearlman and Trans Continental | Main | Don't savings bonds pass tax-free to heirs? »
Q. Is the lifetime gift tax exemption $1-million each for a husband and wife ($2-million total) or could we each give $1-million to each of our four children ($8-million total?
A: It’s $2-million total, which does not include the $12,000 that you each are allowed to give to an unlimited number of people each year. And if you have that much money, you need to be talking to an experienced estate planning lawyer.
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 St. Petersburg Times personal finance editor Helen Huntley writes about money topics and answers questions about financial planning, investments and personal income taxes.
Helen has been following the Lou Pearlman/Trans Continental investment scam since December 2006. Read more about it in this special report and on this blog. Looking for help with your income taxes? Check out this special report
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