Equation #1 below shows the relative value of a taxable gift (numerator) when the gift is subject to gift taxes compared to if it is gifted as part of an estate (denominator).
1. 
Equation #2 below shows the relative value of a tax free gift if it is gifted today (numerator) compared to if it is gifted as part of an estate (denominator).
2. 
Equation #3 below shows the relative value of a taxable gift when the donor pays the gift taxes (numerator) compared to if it is gifted as part of an estate (denominator).
3. 
