What is the name of the tax regime that combines gift tax and estate tax under federal law?

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Multiple Choice

What is the name of the tax regime that combines gift tax and estate tax under federal law?

Explanation:
The federal framework that links gift tax and estate tax into one system is called the Unified Gift and Estate Tax. The core idea is that gifts you make during life and assets you leave at death share a single exemption amount (the unified credit) and fall under the same tax structure. You use part of the unified credit for taxable gifts you give during life; whatever remains can shield a portion of your estate from estate tax at death. Because of this unification, the same tax rates apply to gifts and to transfers at death, and the exemption is not separate for gifts and estates. Portable, Credit Shelter Trust, and Unlimited Marital Deduction are related concepts or tools in planning, but they do not name the regime itself.

The federal framework that links gift tax and estate tax into one system is called the Unified Gift and Estate Tax. The core idea is that gifts you make during life and assets you leave at death share a single exemption amount (the unified credit) and fall under the same tax structure. You use part of the unified credit for taxable gifts you give during life; whatever remains can shield a portion of your estate from estate tax at death. Because of this unification, the same tax rates apply to gifts and to transfers at death, and the exemption is not separate for gifts and estates.

Portable, Credit Shelter Trust, and Unlimited Marital Deduction are related concepts or tools in planning, but they do not name the regime itself.

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