Inter-Vivos Gifts Self-Quiz
Uncle wants to give a birthday
gift to Nephew. So, he mails Nephew a check for $10,000. While the check
is in the mail (before it reached Nephew), Uncle dies. Nephew receives
the check, but Uncle’s estate demands that Nephew give the check
back. Is the estate correct?
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Uncle wants to give a birthday
gift to Nephew of $10,000, but he doesn’t have enough money right
now in his bank account. So, he gives Nephew a check on July 1, but postdates
the check September 1. During this time, he intends to deposit the necessary
funds into the account. Is this a valid inter-vivos gift?
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Uncle wants to give a birthday
gift to Nephew of $10,000, but he’s not sure. So, he hands Nephew
a $10,000 on July 1 that is dated September 1. Uncle says “If you
behave between now and September 1, you can take the money. But I reserve
the right to stop payment on the check if you’re not a good boy
between now and September 1. Is this a valid inter-vivos gift?
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Uncle wants to give a birthday
gift to Nephew of $10,000. Upon hearing of this, Nephew gets so excited,
that he sends his sister, Niece, to Uncle’s house to pick up his
check. Niece goes to Uncle’s house and picks up the check for Nephew.
While Niece is returning home to deliver the check to Nephew, Uncle suffers
a heart attack and dies. Uncle’s estate wants to recover the $10,000.
Can it?
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Uncle wants to give his yacht
to his Nephew as a birthday present. He thinks of 3 possible ways to accomplish
the gift of the yacht to Nephew:
A- giving him the keys to the boat B- taking him down to the marina and bringing him aboard the boat and telling him that he’s transferring title to the boat C- writing down on a piece of paper that he wishes to transfer the boat to Nephew and giving him the piece of paper. Which of these, if any, are effective? |
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