First, gifting lets you shift the business interests to those of your choice. You control both the timing and the size of the gifts. Second, gifting can reduce the value of your interest in the business, both for purposes of future estate tax liability or a future sale. Valuation discounts may be used to further reduce the value of the transfers. There are several ways to make gifts including Annual Exclusion Gifts, Lifetime Transfer Tax Exemption, Gift Savings Devices, and Bequest or Transfers at Death.