Legal Question in Wills and Trusts in North Carolina

gifts

my sibling would like to gift me a 6 figure number...what kind of document should I receive to make it legal & proper if disputed?


Asked on 2/15/07, 11:26 am

1 Answer from Attorneys
Jack Thornton J.E. Thornton, P.A.

Re: gifts

The answer depends on the form of the gift and on who is the potential party disputing the gift. If it is to be a cash gift, you could have your sibling write "gift" on the check in the memorandum box. If the gift is of cash or other cash equivalent to distinguish the transaction from a loan, you should have your sibling write you a letter confirming that the transfer is a gift not a loan.

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Answered on 2/15/07, 11:40 am


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