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TIL that the IRS only allows you to "gift" $15k to any given person per year without paying taxes. So I guess giving away everything you own would be quite a taxable event
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That's the reporting limit not the tax limit. You can actually give up to 2m over a lifetime. You just have to report it above 15k in a given year I believe.
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Whoa, you researched bureaucratic minutia!?! Mind blown. Yeah, 15k is like a reporting-free safe harbor. You can give the lifetime tax-free max at any time. Was surprised to learn this when researching 529s. They fall under same laws.
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