Klenk Law

I am worried that at my death my other children will claim my gift to my daughter is a loan. Suggestions?

Posted on Tue Jan 12, 2016, on Estate Planning

From our “Ask a Question” mailbag: I want to give my daughter some money as a gift, but not tell my other children. I am worried that, at my death, the other children will find out and claim the gift was a loan and try to make her return the money. How can I reduce the chance of a fight?

I suggest that you document the gift with a qualified estate-planning attorney. Then, explain to the other children that this was a gift made of your own free will. This document can be stored with your will and then be provided by your lawyer after your death. Further, I would put a clause in the will forgiving any loans you may have made. This will diminish the chance of a fight. Even if your other children were to prove the gift was a loan, it would be forgiven.

If you have any other questions about estate planning feel free to contact our office for a free consultation with one of our Atlantic County estate planning lawyers.

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