Articles by Chet Greenspan as they appeared in his column, "Ask the Lawyer," in Sonny Bloch's Action Line Newsletter, from July 1993 - May 1995.

I received this question from V.S., of Forest Hills, N.Y., who wrote:

I am thinking of making a gift to charity. What are some of the benefits to my estate, in addition to my good feelings?

I received this question from S.G., of Portola Valley, CA., who wrote:

My friend is married to a handsome man who is not a U.S. citizen. She is concerned she won't be able to give him her assets without incurring estate or gift tax. Is her concern well founded?

I received this question from S.L., of Brooklyn, N.Y., who wrote:

I'm concerned about paying the death taxes due upon my wife's and my decease. Can you set out some basics on this?

I received this question from A.N., a CPA from Merrick, N.Y., who was preparing a decedent's Federal estate tax return, IRS Form 706, and who wrote:

I always try to include as many deductions as allowed against the gross estate. In addition to the marital and charitable-bequest deductions, and the deduction for mortgages and other debts of the decedent, can you tell me of other deductions available?

I received this question from V.G., in Bath Beach, New York, who recently wrote and said:

My wife and I have approximately $860,000 and I understand that if I leave all of my estate to her there won't be Estate Taxes due. Our house, owned jointly, is worth about $350,000, we jointly have stocks worth about $385,000 (they fluctuate), my IRA, of which my wife is beneficiary, is approximately $48,500 and the rest, about $76,500, is in a joint bank account with my wife and son so that if my wife and I cannot pay bills, he will be able to make payments for us. I have two daughters, also. Am I right about there being no Estate Taxes due?

M. D., of Flushing, N.Y., asked me this question:

My wife and I are going to have a happy problem. Our estate is worth over $1.5 million and we know there will be Federal estate taxes payable by our two kids upon our death. The home we've owned jointly for 28 years and my Keogh retirement plan are each about $500,000. The rest of our assets are jointly owned. What are your suggestions for keeping these taxes to a minimum?

I take this opportunity to wish all our readers a very Healthy and Happy Holiday Season and New Year! This is the season to be in a gifting mood. Of course, gifting is an important part of estate planning. I want to review some of the rules of "safe gifting."