We would like to gift my estate to my children using the Annual Exclusion (currently $14,000 per year/per spouse) and continue this approach, until all my estate is gone. We have been withdrawing Cash from my Savings Account and giving it to the 4 children ($28,000 each in 2014). The only records that I have to show the IRS if audited, are the "Withdrawals of Cash" from my Savings Accounts. Should I file a Form 709 "US Gift Tax Return" this year (2015 for
2014) even though it is less than the "Annual Exclusion limit" of $14,000, so that I have additional records of the monies gifted? I do not want to ask my children to sign receipts etc. and feel that the Bank records should suffice. What do you suggest? Thank you, Bill