Gifting Property Assets Before Death
There may be certain reasons that persons opt to gift their property and assets while they are still alive as opposed to waiting until death. Minimizing tax liability may be a consideration in determining whether to give away money during life or at death, but pre-death transfers open up the door to the same types of disputes as transfers made at the time of death. In addition to challenging transfers that occur at death, it is also possible to set aside improper transfers made during life, or by beneficiary designation.
Similar to gifting property and assets before death, transfers made during life may be voidable on the grounds of undue influence, lack of testamentary capacity, fraud, or duress. Our attorneys work with clients by reviewing the gifts before death rules and determining the efficacy of such pre-death transfers, and should there be some question as to the validity of the transfer, will work hard to protect the client’s interests in the outcome.
Often times, these types of undue influence or duress situations arise when individuals are of older age, and their judgment is hindered due to medical conditions or they are unduly pressured into signing over assets.
Working with an attorney can help build the case you need to prove that the family member or individual presenting the pre-death transfer was not in the right state of mind at the time of the transfer.
Let GCF Help you Navigate Gifting Property Before Death Rules
In cases such as this, our attorneys will work with you to identify the true intent of the transfer, if any, and then seek to perform discovery around the circumstances that led to the alleged improper transfer. In looking at the totality of the circumstances, we can unearth the truth behind such pre-death transfers to clarify the validity of the transfer.
Our seasoned estate and trust attorneys will work hard to ensure a deceptive or illegal transfer is rendered invalid, or if you are the beneficiary of a transfer that is being challenged, we will work with you to build your case.
Want to learn more? Contact us today for a private consultation.