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Hi all--hope an attorney can answer this question:
If someone of sound mind confers with an attorney and makes an irrevocable
monetary gift, having executed no other legal documents except for the tax
form, have they grounds to sue for the return of the money?
Thanks.
C. Richards
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Carrie Richards wrote:
Hi all--hope an attorney can answer this question:
If someone of sound mind confers with an attorney and makes
an irrevocable monetary gift, having executed no other legal
documents except for the tax form, have they grounds to sue
for the return of the money?
If it's really a gift and it's irrevocable, you can't get it back.
That's what irrevocable means.
Well, unless you file bankruptcy within 90 days or one year, depending
on your relationship to the donnee. Or as a result of the gift you
become insolvent and don't and can't pay your creditors. Then your
creditors can get it back for you to pay them with.
Stu
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On 21 Sep 2004, "Carrie Richards" <CR@help.com> wrote:
If someone of sound mind confers with an attorney
and makes an irrevocable monetary gift, having executed
no other legal documents except for the tax form, have
they grounds to sue for the return of the money? Thanks.
Not on the basis just of the facts as you state them above.
(Except for the arguably superfluous factoid about conferring with an
attorney, the facts as you include them in your question are a slight
variation on two related statements -- a basic definition of a "gift"
and that there is evidence for the exchange to which you refer of an
irrevocable gift having been made.)
Whether there may be other facts relevant to the relationship and
transaction that you have not yet stated that would provide such
grounds or whether the rengeging giver will sue regardless whether
there appear not to be are bona fide grounds to do so are different
questions.
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"Carrie Richards" <CR@help.com> wrote in misc.legal.moderated:
If someone of sound mind confers with an attorney and makes an irrevocable
monetary gift, having executed no other legal documents except for the tax
form, have they grounds to sue for the return of the money?
Not if you gave an accurate description.
"Irrevocable" means no changing your mind later. "Gift" means the
other party has no obligation in return for the money or property.
You _might_ have grounds like mistaken identity (you thought you
were giving it to your favorite nephew but actually it was his evil
twin), but you'd have a tough row to how to make that one stick.
--
If you e-mail me from a fake address, your fingers will drop off.
I am not a lawyer; this is not legal advice. When you read anything
legal on the net, always verify it on your own, in light of your
particular circumstances. You may also need to consult a lawyer.
Stan Brown, Oak Road Systems, Tompkins County, New York, USA
http://OakRoadSystems.com
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Hi all--hope an attorney can answer this question:
If someone of sound mind confers with an attorney and makes an irrevocable
monetary gift, having executed no other legal documents except for the tax
form, have they grounds to sue for the return of the money?
Thanks.
C. Richards
An important issue in whether a gift is enforceable is whether the
gift was completed. If the gift wasn't completed, it can be revoked.
The usual rule on completing a gift of something like money is that it
is completed when the donor has given control to the donee.
If the donor is seeking return of the money, it sounds like the money
has alerady been transferred to the donee, making the gift completed
(and thus enforceable).
--
Not a lawyer,
Chris Green
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