respond to this post: One of the primary transfer taxes in wealth planning is the federal estate tax, which is levied on the transfer of a deceased person's assets to their heirs. This tax can significantly impact the value of an estate passed on to beneficiaries, making it a critical consideration in wealth planning strategies. One common approach to mitigate the impact of the state tax is through the use of the annual gift tax exclusion. By taking advantage of the annual gift tax exclusion, individuals can give up to a certain amount per year to any number of recipients without incurring gift tax, thus reducing the taxable value of their estate. Through strategic gifting, an individual can systematically lower their estate value over time, potentially reducing or eliminating the estate tax burden upon their death. Additionally, other techniques like establishing irrevocable trusts can be employed to further mitigate estate taxes