Many individuals are still concerned about estate taxes, especially in light of the 2010 Sunset provisions for the new laws passed last year and Congress' continuing reluctance to repeat the estate tax permanently.

Therefore, if you're considering gifting assets to reduce your estate or simply to pass on some of your wealth while you are still living, this could be the right time. Most analysts consider the current decline in the stock market temporary. By gifting assets while the values are lower, you will be able to give more without exceeding the annual $11,000 limit.

The same applies for those concerned with the lifetime limits for gifts. The value of your estate after maximizing gifting will be considerably smaller than if you wait until your portfolio value increases again.

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