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Amount, not in excess of $10,000 per year, given to each of an unlimited number of donees free of federal estate tax and gift tax. Each individual can give up to $10,000 to any one donee, or up to $10,000 each to an unlimited number of donees, provided the gift has no conditions attached. A gift completed in this manner will not reduce the donor's marital deduction. Wealth can be transferred on a significant basis free from federal estate tax by careful planning providing the donor is comfortable giving away acquired wealth while still alive. A word of caution: If the gift is in the form of a check, the Internal Revenue requires that the check be paid and cleared by the donor's bank before the gift can be considered complete. Thus, if the check is given in December, but does not clear the donor's bank until January, the gift would be deemed to have been given in the new year and the old year's gift allowance will have been wasted.