<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by JoeDoakes:
People should also be aware that if you purchase more than $11,000 cash value (not face value) in any one year in the name of any one other person, you can have gift tax consequences ... </font>
However, also be aware that the
gift tax exclusion amount applies to each
individual who makes a gift. So if you're married, you and your spouse can give a combined $22,000 to as many individuals as you want.