May someone make a gift (up to $12K) to a beneficiary of his will (a fixed amount) with the agreement to lower the beneficiary's inheritance by the amount of the gift? In effect, it would be giving an advance on the inheritance. This would (1) let the beneficiary have some of the money sooner, (2) reduce the basis of the estate tax (unless such a gift doesn't get the $12K exemption). Is this permissible? Thanks.
-- Earl Kiosterud