Guest Column: When it makes sense to gift your house
August 24, 2026 | Patricia C. Marcin |Many people own second homes that, in the right circumstances, can be used to make gifts and reduce the portion of their estate subject to estate tax.
With the high 2026 federal estate and gift tax exemption ($15 million), no New York State gift tax, and the high 2026 New York State estate tax exemption ($7.35 million), gifting assets to loved ones may not be top of mind. However, tax laws can change with shifts in political power, and governments around the world have increasingly scrutinized estate planning techniques. Given this uncertainty, it may be worth considering lifetime gifting to reduce the size of your estate.
