Estate tax exemption
Every year, I send money to my parents back in my home country to support them. Will these lumpsum amounts that I send count towards the federal estate tax exemption (which I believe is $5.34 million for 2014)? How does this play into the gift tax? (My parents aren't US citizens/residents) Are there any other considerations that you'd caution me against from tax liability perspective? Thank you for your help.