While a lot of divorces these days involve dividing debt rather than assets, there are still a few marital estates left with wealth and complexity.

When the parties get stuck on one item, like jewelry or a car or cash, one idea for breaking the impasse is to make a gift to the children.  This can be either outright or through a will or a trust or a contractual provision to be executed at some time in the future.

For 2009, you can give up to $13,000, or $26,000 for a married couple, to each recipient without incurring the federal gift tax