The estate tax is a tax on your right to transfer a property at your death. It consists of an accounting of everything you own or have certain interests in at the date of death.
If you give someone money or property during your life, you may be subject to federal gift tax.
For example during the 2016 tax year, the law allowed you to make an unlimited number of tax-free gifts as long as no one received more than $14,000. Therefore, you could have made hundreds of $14,000 gifts without paying a dollar in gift tax as long as each recipient was a different person.