Legal Question in Wills and Trusts in Florida
Intent of a gift
My great aunt put aside money for me when I was 5 that would gain interest. It was SAID that this money was intended for college money. I have paperwork that says there is a gift for me and also that I would be given a portion of it at 19, 20, 21, and 22. I got the first installment when i was 25, last year. I used some of this money for college. My great aunt is in a nursing home and my uncle is handling her finances. I figured I would get another installment this year and when I asked him, he said I will not be getting the rest of this money because I didn't use it all for college. He says that it was her intent that I use it for school. My dad (his brother) sent me a letter that says how nice it is for her to give me this gift, and how it would make a great downpayment on a house, or etc. Can my uncle do that?
1 Answer from Attorneys
Re: Intent of a gift
The answer depends on how the money was "put aside." If the account was just put aside but was not in any fashion transfered to you, then it was not a real gift and can be revoked. If it was a promise of money for college, then it would only be good for college.
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