What are the federal estate and gift tax benefits?

The good thing about making gift contributions to an Embark account is that they may reduce your own tax burden by helping to reduce the taxable value of your estate. Individuals making gift contributions may benefit from an annual federal gift tax exclusion of $19,000 per donor ($38,000 for married contributors), per beneficiary. And in the event that a contributor’s gifted amount to a beneficiary exceeds $19,000 in a single year, they may elect to treat up to $95,000 ($190,000 for married contributors) as having been made over a period of five years for federal gift tax exclusion. Please consult a tax advisor for more information.