Five years. Seven years. OMark for follow up Question 65 of 75. In 2018, a grandfather gave a life estate to his grandson and a remainder interest to his granddaughter. Each interest is valued at $15,000. The gift to the granddaughter is: Fully shielded by the annual gift tax exclusion. Partially shielded by the annual gift tax exclusion. Taxable. O Fully shielded by the annual gift tax exclusion, once it becomes a present interest