Also known as: transfers of property by gift · transferred property by gift · transferring property by gift · gift transfer · inter vivos gift
Written by attorneys · grounded in primary & secondary sources — see below
A donative transfer of property from one person to another during the donor's lifetime without consideration. The transfer requires intent to make a present gift, delivery of the property or a deed, and acceptance by the donee.
Tobias Thomas executes a will leaving his downtown building to his grandson Trevor Tate. Two years later Tobias deeds Trevor a suburban duplex and hands him a signed letter stating the gift reduces what Trevor will receive under the will. Trevor signs the letter acknowledging receipt. When Tobias dies the duplex operates as partial satisfaction of the downtown-building devise.
Tyler Taylor executes a deed of gift transferring his vacation home to his children Tabitha Taylor and Thomas Thompson and their descendants. The deed uses the term "my children" to identify the beneficiaries. The transfer creates a class gift whose membership and shares remain subject to fluctuation until the class closes.
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A contemporaneous writing by the testator or a written acknowledgment by the devisee must indicate that the gift is intended to operate as satisfaction of the devise. Without such a writing the gift does not reduce the devise.
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The transfer is treated as an advancement only if the decedent made a contemporaneous writing or the heir made a written acknowledgment indicating the gift is to be taken into account in dividing the intestate estate.
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No. A class gift may be created by a will, trust, deed of gift, beneficiary designation, or any other donative transfer. The key requirement is that the transferor intend the beneficiaries to take as members of a fluctuating group.
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