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Model this transaction as a person to person loan for 150k, you will need a promissory note where the loan is repayable yearly at X% interest (you need to be charging a realistic rate like prime, otherwise usury laws become an issue) for Y years. The rate and repayment period matter here as you want to have your annual repayment amount around the same as the gift tax exemption amount.
After signing the loan docs and getting the 150k, starting next year he (or his estate/executor) forgives your annual repayment i.e. you never actually pay him back for your "loan." This is considered a gift and triggers the gift tax laws, but as long as you are below threshold you will not pay tax. So you get the 150k now, and spread the tax implication over years where it can stay below threshold meaning you do not pay gift taxes.
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Grant
In the stable: 1938 Buick Special model 41, 1963 Solex 2200, 1973 Vespa Primavera 125, 1974 Vespa Rally 200, 1986 VW Vanagon Syncro Westfalia, 1989 VW Doka Tristar, 1995 Toyota Land Cruiser, 2011 Pursuit 315 OS, 2022 Tesla Y
Gone but not forgotten: 1973 VW Beetle, 1989 Porsche 944, 2008 R56 Mini Cooper S
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