Legal Question in Wills and Trusts in Florida
One Time Gift
Can't an elderly person ''gift'' a large sum of money to the person that is the beneficiary in the will BEFORE they pass away? Isn't it possible to do the ''One Time Gift'' thing?
Asked on 1/15/09, 11:25 am
1 Answer from Attorneys
Thomas Rosenblum
Rosenblum Law Offices
Re: One Time Gift
In response to your question, yes, anyone can gift whatever he/she wants to any person they want. It is irrelevant that the person who receives a gift is also a beneficiary under donor's will.
There are certain tax consequences governing gifts. I would speak with a CPA or a tax attorney first. The best tax atty/estate atty. I know is David Peek (Jacksonville). 'Hope this helps. Tom Rosenblum
Answered on 1/15/09, 12:20 pm
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