1. What are the tax and non-tax advantages or disadvantages of making a transfer by gift instead of at death? 2. Although there appear to be transfer tax advantages in making gifts, can all taxpayers take advantage of these tax savings? 3. If a husband and wife collectively own assets valued at $2.3 million with an aggregate basis of $400,000, what planning considerations should be taken into account to maximize overall tax savings under the federal gift, estate, and income tax systems? How about if the assets were worth $6.3 Million with an aggregate basis of $3.4 Million? 4. How will lifetime gifts affect any applicable state death taxation