A married couple, (really any two people), can gift up to $68,000 a year to any other two people; quite often, a child and their spouse without any effect on the federal estate tax limit. Any amount over $68,000 annually, ($17,000 per person/per recipient), will decrease the estate tax limit by that amount. Of course gifts can be made on December 31st and January 1st to effectively double that amount.
Rule #1, Don't lose money. Rule #2, read rule #1. - WB.