Gifts Flashcards
What is the donor’s intent in making a gift?
Donor must intend to make a present & irrevocable transfer
A valid gift requires a present transfer of some interest and cannot be intended to take effect after death.
What are the two types of delivery for gifts?
- Actual Delivery: physical transfer of item
- Constructive/Symbolic Delivery: transfer of access or control sufficient to divest donor of dominion over property
Often involves an instrument of the gift, such as a letter.
How is acceptance of a gift presumed?
Law presumes acceptance when the gift is of value to donee.
What is an inter vivos gift?
Made during donor’s lifetime; title & possession vest immediately.
What characterizes a testamentary gift?
By Will; title & possession do NOT vest immediately.
What are conditional gifts generally considered?
Conditions attached to gifts are generally NOT enforceable, except for engagement rings.
What is a condition precedent in the context of gifts?
A condition that must be fulfilled before the gift is made (e.g., if you get all As, I’ll give you a car).
What is a condition subsequent regarding gifts?
Typically not enforceable once the gift is made.
What was the ruling in Simpson v. Simpson?
Court held son couldn’t claim guns because intent alone is insufficient without delivery.
What was the significance of Gruen v. Gruen?
Father’s letter constituted a valid gift due to constructive transfer of ownership.
What are the four elements required to establish a Gift Causa Mortis (GCM)?
- Decedent intended to make gift
- Decedent apprehended imminent death
- The “res” was delivered (actually or constructively)
- Death actually occurred.
What happened in the case of In re Estate of Smith?
Alfred delivered checks and expressed intent for gifts in a letter before committing suicide, satisfying all GCM elements.
