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#2
04-25-2022, 05:53 PM
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This is a great question. I was looking into this for giving a car as a gift. Here's what I found on the internet:
The first tax-free giving method is the annual gift tax exclusion. In 2021, the exclusion limit is $15,000 per recipient, and it rises to $16,000 in 2022. You can give up to $15,000 worth of money and property to any individual during the year without any estate or gift tax consequences. I hope this helps. Hopefully a tax lawyer or CPA will chime in. I guess you would be able to slowly give your collection away in large chunks without going over that limit and incurring a large tax bill for the person receiving the gift. If you have a trust, you could specify whatever was left was to go to the designated party when you die. Last edited by GasHouseGang; 04-25-2022 at 05:58 PM. 
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