College Gift

UT Austin College of Engineering -- Giving to the College -- Gift of Stock Skip to Main Content Skip to Section Navigation Search Search Engineering Home > Giving to the College > Friendsof Alec > Make a Gift Friends of Alec Alec's Story Austin Area Businesses Gift Designations Life Endowments Matching Gifts Gifts of Stock Pledgecard Staff Giving to the College Quick Links Quick Links Engineering Home Engineering News Academic Departments Prospective Students Current Students Faculty Staff Alumni The College Our Faculty & Staff Research Directory Continuing Education Corporate Relations Giving To The College Welcome to Online Giving Welcome to the Online Giving page for the UT College of Engineering Thank you for your interest in making a gift to The College or one of its Departments/Programs. You may give online in five simple steps: Step 1: Select Engineering from the gift area list. Step 2: Select an area within Engineering for your gift to go to. Step 3: Enter your payment information. Step 4: Review a summary and submit your gift. Step 5: Receive a confirmation that you can print for your records. Your transaction is protected by SSL (Secure Sockets Layers). With SSL, the information you supply is encrypted before being sent to our server. This protects your transaction from unauthorized viewing while being transported across the Internet. For more information go to The University of Texas at Austin Privacy Policy . If you prefer to mail your gift, you can print a pledgecard and send it to: The University of Texas at Austin College of Engineering Friends of Alec 1 University Station, C2104 Austin, TX 78712-0287 To make a gift by phone call 512-471-4080. For information about setting up an endowment or making a planned gift call 512-471-6151, fax us at 512-471-3395, or e-mail us at ut@engr.utexas.edu . UT Directory | UT Offices A-Z | Campus & Parking Maps | Calendars | Accessibility | UT Direct Last Updated: September 20, 2005 | College of Engineering at The University of Texas at Austin | Engineering Contacts | Send comments

Baby Gift Suggestions Berkeley

Berkeley Parents Network: Baby Gift Suggestions Berkeley Parents Network Home Members Post a Msg Reviews Advice Join BPN Help/FAQ What's New Search Baby Gift Suggestions Berkeley Parents Network Advice Babies Baby Gift Suggestions What's the one ''must have'' item? What was your best baby shower gift for under $20? Memorable Baby Gifts Gifts for Twin Babies Present for New Family in Hong Kong Checklist for Baby Needs related page: Baby Gear what/where to buy Present for New Family in Hong Kong November 2001 My brother and his wife are about to have a new baby inHong Kong. I'd like to send them a gift that would be useful, and perhaps difficult to get in there. Does anyonehave any sense of an American item that would be usefuland harder or more expensive to get there? Thanks. Have you seen the Birthday Cakes that FTD Florists make up? All theingredients are things for the baby made up to look like a birthday cake.Or throw a shower for them with your friends and then send everything over.Hong Kong pretty much has everything we have so it would be difficult tofind something unique unless you want to go the antique route (earlyamerican cradle or crib). I don't suppose they have too many of those around there.marianne When I had my baby in Hong Kong my friends and family inthe States sent lots of clothes....probably because theyare light and easy to send. However, it was like sendingcoal to Newcastle....since HK makes a lot of baby clothes.What I appreciated most were parenting magazines, books for me (What to expect in the first year, travelling with children, etc.), books for the baby, music - especially a tape of lullabyes, the black and white infant toys- expensive in HK, the baby bjorn backpack - also very expensive in HK- but available, a cheap nightlight that can stick to the wall (with batteries). You also might wait until after the baby is born to findout what they need. US medicines - baby tylenol, etc. are expensive there and a medicine kit for baby would be a great gift. As would some bathing products thatare natural - try the Real Goods store next to Smith Hawkins. HK is very dirty and something 100% cotton, cuddly, or just non-toxic is great. Good luck! Amelia It's pretty easy to get mainstream baby stuff in Hong Kong, soyou might want to go alternative (Berkeley) stuff. We had lotsof success with a "boppy" nursing pillow, Sear's Baby Book, and "natural" baby wash stuff. My sister sent Tucks Pads andLasinoh, neither of which are readily available there. What was your best baby shower gift for under $20? Gwynne What was your favorite baby-shower gift for $20 or less; and where can you get one? I got a ton of great gifts, but the best thing is what I bought for us afterward (and what I now buy for new parents): a set of burp cloths. With our 5-month-old, our motto is "you never can have enough burp bloths." You can buy a set of really good ones on Baby Center (www.babycenter.com). It sounds really dull, and it won't get the ooohs and ahs at the party. But later your friends will thank you and remember you. And the burp cloths will still be in use long after Baby has outgrown the clothes. Fran my favorite gift for under $20 are packages of flannel receiving blankets from Target. I used them all the time for my newborn, and they made great (heavyduty) spit-up cloths too. Susan favorite baby shower gift for $20.00 or less: 1) diaper covers try barefoot baby catalog or biobottoms catalog for really nice ones 2) gift certificate to a used baby clothing store Dianna Baby gifts: My two best baby gifts were: a very large, colorful, translucent scarf. This was actually the wrapping for a tiny pair of booties which my son never wore. But I got more use out of that scarf that you would believe. I used it to shield me when we were breastfeeding in public, as a blanket, as an emergency changing or napping surface, to carry things in, to play peek-a-boo with, the list goes on an on. I'd bet this tie-dyed scarf was bought on Telegraph ave. for under $10 (admittedly, 11 years ago). Second was a gift from my sister of baby tylenol, pedialyte drink, and various things of that nature such as a dropper, and medicine measuring spoon. It's just the kind of thing that one, in the happy euphoria of having a baby, doesn't think of needing, and just the kind of thing you will need some morning at 2 am. Perhaps this last present is best coming from a close friend or relative, though. I felt we got the most use out of bath toys. Two, three years later, we were still playing with bath toys we got as a baby gift. Another gift that was billed to me as "guaranteed to put your baby to sleep" was a "Lullaby Light Show." It's a wind up musical light. I've seen them at Toys R Us. We didn't really use it until our son was closer to one year old, but then it became part of our bedtime routine until he was about 3. After my baby was born, my view of shower gifts changed quite a bit. I had always gone for cuteness when giving baby shower gifts, but after my daughter arrived, I found myself returning gifts we'd received. I exchanged several adorable but impractical outfits from BabyGap and gave away a number of gadgets that went unused, and I decided then that when my next pregnant friend had her shower, I was going to do something based on actual, real maternal experience. So I put together an assortment of little things that had each turned out to be perfect for their purposes -- the perfect teething ring, for example, was one that could be frozen but that had a small nonfreezing handle so the baby wouldn't have to grip ice. The perfect carseat toy was three plastic fish that hooked together and hung from the carseat handle. (They could be unobtrusively nudged to one end of the handle when not in use.) The perfect burp cloths were a dozen cloth diapers. The perfect newborn t-shirt was the type that snapped or tied on one side instead of directly over the umbilical cord. And the perfect baby toy (which was also good for a knowing laugh from the experienced moms when it was opened) was an empty paper towel roll. I popped in a board book because I always like to give kids books, and I wrapped each item individually and then placed them all in a cute gift bag. I've given these bags to perhaps half a dozen expectant parents now -- they're always a source of fun and, well, people seem to appreciate them. This is a gift that can be tailored to any budget -- how thoughtful the choice of items is will make or break the gift's real value. David A gift of a full dinner to be delivered on a evening sometime (first week or two) after baby is born. I got both the take-out pizza and chinese on paper plate variety as well as the full home cooked chicken dinner with homemade apple pie on nice dishes variety. Both types were wonderful. The meals were delivered on a previously agreed upon evening and then the generous givers promptly left us to ourselves. In the case of the chicken dinner, the whole meal was delivered in an ice chest with instructions to return dishes to chest UNWASHED for pick up the next day. A coupon from a local restaurant that delivers would be good too. Although I didn't fully appreciate these gifts until after the birth of my daughter, these were by far the best! I generally give a toiletries kit: For about $20 you can get the teeny finger nail clippers, shampoo, cheap washcloths, mild soap, A&D, tylenol, a little tiny hairbrush. I expand the gift for closer friends to include a cute hooded towel, a bathtub and some tub toys. tampine The best shower gift I got was a sort of receiving blanket with feet. I know you said under $20 and this is about $40 but go in on it with someone because it's truly great! Imagine a five-point star. The baby's head goes at the top point, the two side points fold across her/his body, and the little feet go in "pockets" at the two bottom points. It's perfect because it doesn't get all bunched up in the car seat and baby bjorn-type things since it sort of has legs. Hard to explain, but go look at them at Rockridge Kids. The one I got was long-john fabric but I've seen them in flannel too. Oh, and it comes with a little cap too. Hadley The Fisher Price Soothing Sounds Aquarium! But I think it is $25. It is my son't favorite thing and I think he will love it for years to come. Available at Toys R US. Fisher Price Soothing VIBRATING (this is key) bouncer about $25. Available at Toys R US. Sassy makes a fish shaped rattle available only at Target it seems, and that is far and away my sons favorite toy. Probably around $4 Mustella makes a great starter kit of their soaps and it is about $20. Available at Rockridge Kids. This was a great gift. Judy a very high quality set of childrens nail scissors. Great for when the baby is small, and i *still* use them on my 10 and 6 year old. I have to say that the ONLY shower gift that I am still using is my Diaper Genie. I LOVE IT. I have a "very sensitive" sense of smell and often gag while changing poopy diapers. I would not be able to live in our house if they were not sealed up in the diaper genie. (I remember baby sitting in houses that reeked of diaper pail. I could smell it as soon as I crossed the threshold.) I know that this is not a very "Berkeley" type gift, but I highly recommend it. The gift I give at baby showers is homemade receiving blankets. The moms just nod and say thanks at first, but a couple of months down the road they are very grateful, raving about them. In case you haven't noticed in the stores most commercial receiving blankets are small rectangles of cloth... 30'x36' or 36'x40'. These are usually 100% cotton and shrink up so that they are much smaller and often no longer rectangular. They make swaddling difficult, are thin, and get ratty looking very fast. Instead, I buy 100% cotton flannel and make square receiving blankets. (2 pieces of flannel sewn right sides together, then turned right sides out, and sew around the edge with a blanket stitch to finish. I usually pick one print for the top and then a solid in a complementary color for the back.) The first ones that I made were 36'x36' but as I started making more I began making them about 40'x40' (have them cut 1 1/4 yds of each fabric to do this) just to waste less fabric. These swaddle a little more bulky, but most parents I know give up on swaddling after the first two weeks... and use receiving blankets as regular blankets after that anyway. Because they are double thick flannel they are quite warm, and are good for use in the winter months. Linda Baby shower gift: I love the little mirrors that hook onto the rear-view mirror in the car so I can see my kid in the back seat without turning around. My kid is 9 now, and I still use it! I've seen them at various baby stores, usually with the childproofing things. Memorable Baby Gifts Feb 1999 Someone gave us a lovely picture frame with our baby's name engraved on it,which we really liked. They are easy to get at Things Remembered (in mallsall over the bay area), there are many styles to choose from, and they arenot expensive. Ann Quilts are always memorable gifts, but there is a catalog called"Exposures" which not only does a quilt, but it puts your pictures that yougive them on the quilt (as sepias or black/whites). I always thought itwould be cool to do a "family tree" quilt and put a picture of the parentsas kids/babies, and then their parents. I don't have Exposure's number offhand, but if you call the 1-800 operator, they'll have the number and youcan request a catalog. It is expensive though, as I recall. Around 250$.But it would be memorable and special! Hilary A really special and unique baby gitf is a DREAM CATCHER. A Dream Catcheras I understand it was designed years ago by the Native Americans and comein many sizes shape and colors. They are a type of hanging mobile that youhang on or over the baby's crib or in their room not just for the baby tolook at but legend has it that it catches all the baby's bad dreams so thatthey will never have a bad dream or nightmare. I have seen some reallybeautiful ones sold right on Telegraph and run anywhere from $10 to $65depending on size and complexity. They have always been received extremelywell by mothers when I have given them. Margie Someone had a horoscope chart done for my son. It was pretty cool to readabout how he would turn out (at least according to the stars!) Of course,this is a pretty expensive gift, especially if you have limited belief inastrology. Diana One of my favorite baby gifts is a music box. The music box that I wasgiven as a baby played the theme from "Romeo and Juliet" and to this daywhenever I hear that song I think of my music box. My Aunt and Uncle gaveme my music box when I was born, and in turn we gave my their daughter amusic box when she was born. I had comptetely forgotten about the musicboxes until I opened the gift from my aunt for my baby. It is so nice tothink that he will have a special connection to a song (His plays "ZipityDo Dah"). Rose I was given a memory box on the occasion of my baby's birth and have reallyappreciated it. I don't know where it came from, but it's basically like acigar box decorated with antique-y Winnie the Pooh figures on it, andentitled "a box to put thing in." It's nice because it can accommodatethings other than papers (like the hospital bracelets, etc) and you can useit in about one second--just open the lid and drop the item in--no need towait for time enough to write/glue/label etc. as you would with a regularscrapbook. Meg Gifts for Twin Babies Nov 1999 I would appreciate some advice regarding twins. I have friends whowill be new parents of twins next spring, and I want to get them a nicechristmas present. Any of you who've recently had twins - can you tell me what was a really useful and fabulous thing [not a service, but an item] that just made life so much better for you? And all of that for around $125 -$150?I thought about a comfy rocking chair, or one of those doublebaby-bjorn things [although that's not the brand], but I'm just not sure.Thanks. I have 9 month old twins and the most useful items so far were:bouncy chairs with toy bars, baby bjorns, snap-n-gos - you attach the car seat to them to make a strollerI found that two of everything was needed so two of one of the above wouldbe a great present. By the way - the double snuggly (like the baby bjorn)was really cumbersome - two baby bjorns are much better. We have 6 month old twins, and the best gifts we got were: a doublejogger (more than your budget but a great gift if you want to go inwith a few other people), a double stroller, and vibrating bouncy seats. Home | Reviews | Advice | Members | Post a Message Join BPN | Help | What's New | Search Please send questions and comments to Berkeley Parents Network . Last updated: May 20, 2004 © 1996-2005 Berkeley Parents Network The opinions and statements expressed on this website are those of parents who subscribe to the Berkeley Parents Network . Please see our Disclaimer for details.

Valentine Gifts Articles Top

Kids Valentine Gifts - Gifts BW gifts | gifts Resources | Add URL Wine Gifts & Baskets From the casual wine drinker to the serious enthusiast, we have a gift that will make them smile. Our selection includes premium wine, gourmet baskets, distinctive champagne sets & the very finest California and Northwest wines. Kids Valentine Gifts Articles Top Valentine's Day Gifts for Moms If you're looking for a sweet gift that the kids can get Mom this year, here are some great picks that will show just how much you love her....( Continue Reading ) Valentines Day Gifts making valentine gifts A growing source for finding Valentine's Day craft projects that make great gifts....( Continue Reading ) Making Valentines Day Gifts and Crafts - Valentines Day Cards to Make Make some home made Valentines Day gifts and cards for your friends and family....( Continue Reading ) Volleyball Valentine Gifts A collection of great volleyball gifts to get your favorite volleyball player....( Continue Reading ) Valentines Day Family Fun - Making saint Valentines day crafts games recipes gifts coloring pages Find many fun crafts, games, gift ideas, recipes, and other activities to help you celebrate Saint Valentine's Day....( Continue Reading ) Kids Valentine Gifts Directory Links sites to send gifts to india ideas for valentines gifts flowers and gifts cheap valentines day gifts gift baskets of michigan college graduate gifts office christmas gifts gifts dad creative gift baskets homemade mothers day gifts business logo gifts how to make christmas gifts gift baskets washington christmas gifts for friends thank you gifts ideas for gifts gift baskets for delivery valentine gift baskets food gifts all cool gifts great gifts under 30 minutes gifts business teacher gifts to make send gifts in india wholesale baby gifts www spencer gifts com baby shower host gifts christmas gifts for your girlfriend gifts for teenage guys monetary wedding gifts homemade kitchen gifts cheap birthday gifts new jersey gift baskets end of the year teacher gifts anniversary gifts 10 years gifts unusual butterfly gifts baby gifts online gift baskets washington dc gifts for executives gifts for grooms men pictures of easter baskets 50 year old birthday gifts cheap gifts for men gift baskets baby Popular Search Terms: Gifts BW © 2004 Gifts BW All trademarks are the property of their respective owners. All Rights Reserved. This site is not related to Brajeshwar or Brajeshwar.com in anyway, shape or form

Jewelry Gifts, "Swirl" Ring

Silver and Gold Jewelry Valentines Day Gifts at Jewelry Crossings main store Fine Jewelry Gifts Pearl Gold Jewelry Gifts, "Swirl" Ring A fine 8mm cultured pearl is caught in an extravagant swirl of textured 14K yellow gold. The texture continues around the shank of the ring. Back of the shank is polished gold. Can be made in any size. $750 more info... Holiday Jewelry Gifts The Gift Of Giving "Happiness comes from giving, not getting. If we try hard to bring happiness to others, we cannot stop it from coming to us also. To get joy, we must give it, and to keep joy, we must scatter it." - John Templeton Say it with jewelry gifts! more special day jewelry gifts... Silver and Gold Jewelry Gifts Why do Jewelry gifts make such great Gifts? Jewelry Gifts last forever Jewlery Gifts look beautiful A Custom Jewelry Gift is personal Unique Gifts are treasured Jewelry Presents make the holiday! Earrings look like hearts! Jewelry Gifts really sparkle! ® Dictionary -- January Birthstones - Garnet Click here for our Birthstone Jewelry Gifts Page Garnet Facts and Fun Garnet Dictionary.com Definition: 1.Any of several common, widespread aluminum or calcium silicate minerals occurring in two internally isomorphic series, (Mg, Mn, Fe)3Al2Si3O12 and Ca3(Cr, Al, Fe)2Si3O12, generally crystallized, often embedded in igneous and metamorphic rocks, and colored red, brown, black, green, yellow, or white and used both as gemstones and as abrasives.2.A dark to very dark red. Synonyms: bittersweet, blood, bloodshot, blooming, blush, brick, burgundy, cardinal, carmine, cerise, cherry, chestnut, claret, copper, coral, crimson, dahlia, damask, flaming, florid, flushed, fuchsia, garnet, geranium, glowing, healthy, inflamed, infrared, magenta, maroon, pink, puce, redness, rose, roseate, rosy, rubicund, ruby, ruddy, russet, rust, salmon, sanguine, scarlet, terra cotta, titian, vermeil, vermilion, wine Other Jewelry Gift Ideas Emerald Leaf Necklace Reticulated sterling silver with a wash of 18K yellow gold is the background for a shimmering light green emerald. 18k gold bale gracefully extends across crinkled surface of the leaf. Necklace complete with 16" sterling silver chain. $175 On Sale more info... Golf Key Ring Your favorite golfer will love this clever key ring-a twist of the golf ball and keys are in place. $35 more info... Pink Tourmaline Diamond 14K Yellow Gold Etruscan Ring The Etruscan design of this 14K yellow gold ring beautifully captures the romance of the 7x5 pink tourmaline flanked by two diamonds weighing a total of .05 cts. $480 more info... 925 Silver Brazil Luba Pearls Men's Ruby Discovery Hot Diamonds ViewCart Checkout Privacy Help Home Contact Sitemap Company Message HOT Wishing Gifts Links Search Store Birthstones Silver Facts Jewelry Gifts

college gift-giving The best

The Basics -- 5 cardinal rules of college gift-giving - MSN Money MSN Home My MSN Hotmail Shopping Money People & Chat Sign In W eb Search: Money S earch MSN Money: Help Home News Banking Investing Planning Taxes My Money Portfolio Loans Insurance Planning Home Retirement Savings Insurance Family/College College Tools Scholarship Search College Search Resources Decision Centers Commentary Index More Tools Related Links Message Boards Print-friendly version Send this to a friend Save for College Go to Step by Step A R T I C L E S Understanding the true cost of college Strategies to meet your college savings goal How to set up your child's college fund Small investments that yield big education dollars 5 cardinal rules of college gift-giving The best way to save for college An investment plan tied to yourchild's age Tax-savvy ways to fund college education Advertisement The Basics 5 cardinal rules of college gift-giving There are many ways, such as gifts and trusts, to help your family financially. But you should know the rules to protect yourself and your loved ones. By Adriane G. Berg Rule No. 1: Decide if you really want to make a gift There are consequences associated with gift giving, so think about what youre trying to accomplish. Dont transfer ownership and control over money without intending to do so. Once a name is changed on a deed, bank account or security, you have relinquished ownership of that asset. Even if you have placed the assets in a joint account, a creditor, spouse or other person named in the account can seize all of the money. Be careful. If you need help in handling money use a power of attorney, don't make a gift. Dont use custodial accounts if you think you'll need the money. The most frequently used form of gifts to grandchildren is the Uniform Gifts to Minors Account, the UGMA, or the similar Uniform Transfers to Minors Account, or UTMA. Although the assets are held in custody until the child reaches adulthood, the money belongs to the child. You cant take it back and the child gets the money at ages 18 or 21, depending on the child's state of residence. Make sure the gift is complete. For example, a deed with two names "in common" sets up only a half ownership. If one person dies, the other person does not necessarily inherit the remainder. Placing a grandchild's name on a deed beside your own does not guarantee that the child inherits the house. The child gets half ownership; the rest is distributed according to the law of intestacy for that individual state. Rule No. 2: Know how to title the gift The title on a bank account, stock, bond or deed creates wide differences in legal rights. A joint account transfers funds completely. Creditors, spouses and gift recipients can get all of it. Accounts that are Payable on Death (POD), and In Trust for Accounts (Totten Trusts) are not gifts. They are revocable transfers that pass without probate upon the death of the donor. Custodial accounts, such as UGMAs and UTMAs, transfer property irrevocably and with no strings attached. The custodian manages the account, and funds can be added to it. All of these types of accounts are considered the child's when it comes to determining eligibility for college aid, except POD and Totten Trusts. A true trust sets up a legal structure that the Internal Revenue Service taxes separately from yours or the recipients income. When a person receives funds from the trust, that person then pays the taxes on those funds. Trusts offer a great deal of flexibility. You can put restrictions on gifts held in trust. For example, there can be investment limitations or you can say the funds can be used to pay only for a grandchilds college, or that the funds can only be distributed after he or she reaches a certain age or once theyre married. Rule No. 3: Understand the tax consequences of a gift A child under the age of 14 is taxed on investment gains at his or her parents' highest marginal tax bracket. The so-called "kiddie tax is imposed to discourage transfers as a way to lower your tax bill. However, children under 14 get an exemption from taxation of investment gains of up to $1,400 a year. The bottom line: If income tax savings is your goal, transfer just enough to generate no more than $1,400 in returns each year. When the child reaches the age of 14, transfer more, unless the gift disqualifies the child for college aid. The donor is taxed for gifts. Be sure you follow the rules to get a gift tax exemption: You can transfer up to $11,000 per person each year without the recipient paying a tax or even reporting it on a tax return. Married couples can transfer up to $22,000 per beneficiary gift tax-free. If college is upon you, you can give an unlimited amount of money and pay no taxes if the gift is earmarked directly for tuition or other college fees (although not room and board). You can also pay the medical expenses of a beneficiary in unlimited amounts, if payments are made directly to the medical institution. If you must pay a gift tax, file on the April 15th after the year the gift was given. Gifts over the $11,000 to $22,000 rule are subject to a gift tax based on their fair market value at the time the gift was made. The usual procedure is to file a gift tax return and use all or a portion of the lifetime $1 million exclusion that we each get for gifts and inheritance. (The exclusion bumps up to $1.5 million in 2004, $2 million in 2006 and $3.5 million in 2009. In 2010, the gift and estate tax are to be repealed. The Republican-controlled Congress may try to accelerate these changes.) Rule No. 4: Know the best strategy to maximize the gift. Will you give now or later? If college planning is the goal, you may want to start immediately. Be sure that you don't use property that qualifies under the stepped-up basis rule. Known as SUB, it allows property such as your home to be appraised at its fair market value upon your death, rather than what you paid for it 20 years ago. So, if you have some highly appreciated property and transfer it during your lifetime, your family will end up paying more in taxes. You are depriving the family of this handsome tax benefit. If you need to give money right away, liquidate non-appreciated property or get rid of your losers. Or you can keep the asset in your name and take a loan against it to make the gift. Will you give outright or in trust? The 2503 C trust, sometimes called the child's trust, allows you to hold the gift in trust until the child reaches age 21, and get the $10,000 gift tax exclusion. If the child dies before reaching that age, the money goes into his or her estate. The money cannot be used to discharge a legal obligation of the donor. College is not a legal obligation. Interestingly, if the grantor/grandparent reserves the right to get income from the trust, the IRS considers the grandparent the owner for tax purposes. In that case, the gains are taxed in their bracket. Family limited partnerships have been around since 1910, and have enjoyed a recent resurgence. If you like the idea of a trust, but want to control the money and investments yourself, consider transferring the gift to a partnership. You act as general partner and the children or grandchildren are limited partners and recipients. Their tax bracket is applied to gains, and you can distribute the funds when needed for college or other purposes. The gift is out of your estate and even better, the gift is subject to IRS gift tax discount tables. In that way, you can transfer more than $1 million free of estate and gift taxes over the next few years. Rule No. 5: Understand the family impact of your decision Although the rules of gifting are technical, the act of giving can be very emotional. Giving a gift to one family member in need may anger another family member, even if that person is financially affluent. A few devices can help smooth family tensions, or at least stave off future legal battles. The advancement clause in a will asserts that gifts given during your lifetime are an advance against a future inheritance. This allows you to give, or advance money to one relative today, and have your executor "even out the score," after you are gone. For example, if you give Grandson John $10,000 for tuition and give Granddaughter Sally nothing, you can still leave the two of them a total of $50,000 in your will. But since John already received $10,000, he gets only $15,000 upon your death and Sally gets $25,000. What if you intend to favor one family member over another? You can forestall a legal fray with the "in terrorum clause." That clause asserts that in the event that one relative is disgruntled, any attempt to attack the will or trust results in a forfeiture of inheritance rights. Few heirs fight for the principle of the thing. Resources Read/Post comments on the Your Money message board Find a problem in this article? Send us e-mail Free Newsletters! Search MSN Money tips © 2005 Microsoft MSN Privacy Legal Advertise Feedback Help