IHT on gifts when estate is below threshold

Can you please clarify the rule on IHT on gifts if my whole estate is below the £325,000 threshold. For example: Say my whole life savings is £100,000 and I have no property or belongings to leave. If I die tomorrow, my £100,000 goes to my children with no IHT payable. However, if I now gift this £100,000 to my children immediately and I then die say within 2 years, will IHT still be payable on the £97,000 or will it be exempt from any IHT because I am below the threshold in total? This is not a personal issue, it is purely an example to help explain my question.

Hi
Inheritance Tax Inheritance tax is a tax on the estate (property / money / possessions) of someone who has died. 
There is normally no inheritance tax to pay if the value of the estate is below the threshold of £325,000.  
Inheritance tax is only due when a person's estate is worth over £325,000 when they die, or if the person who died gave away more than £325,000 in gifts in the 7 years before they died.
Gifts made in the last 7 years before someone dies, use up the £325,000 tax free allowance first, but if the gifts received are less than the £325,000 inheritance tax free allowance, any unused threshold can then be used by the estate of the person who has died.  
If the person who died owned their home (or a share in it) the tax free threshold could be increased to £500,000. 
You can find out more information here: 
Work out Inheritance Tax due on gifts