I am still unclear if I have to owe gift tax after the $18,000 exclusion to each of my brothers? I never gifted real estate to anyone else before. Isn't there a $12,920,000 gift exclusion for real estate? I am also planning to transfer my own personal residence into a revocable living trust for the benefit of my children. Is this also considered a gift when I put my personal residence into a trust and is it also added to the $12,920,000 exclusion?
