Define: Inter Vivos Gift

An inter vivos gift refers to a gift that is made during the lifetime of the donor, as opposed to a gift made through a will after the donor’s death.

For a valid inter vivos gift, there must be an intention by the donor to make a gift, delivery of the gift to the recipient, and acceptance of the gift by the recipient.

In general, an inter vivos gift cannot be revoked once it has been completed. However, there may be certain circumstances where revocation is possible, such as if the gift was made under duress or fraud.

While some gifts can be made verbally, an inter vivos gift typically requires some form of delivery or transfer of the gifted item or property. Therefore, it is advisable to have a written record or documentation of the gift.

Yes, an inter vivos gift can be made to a minor. However, in such cases, a guardian or trustee may need to be appointed to manage the gifted property until the minor reaches the age of majority.

In some jurisdictions, inter vivos gifts may be subject to gift taxes. It is important to consult with a tax professional or attorney to understand the tax implications of making an inter vivos gift.

Yes, an inter vivos gift can be challenged in court if there are allegations of undue influence, lack of capacity, or fraud. It is advisable to consult with an attorney if you believe a gift is being wrongfully contested.

Yes, an inter vivos gift can be made conditional upon certain events or circumstances. However, the conditions must be clearly stated and not violate any laws or public policy.

Yes, an inter vivos gift can be made jointly with another person. This is often done through joint ownership or joint bank accounts, where both parties have equal rights to the gifted property.

Yes, an inter vivos gift can be made to a charitable organisation. Many individuals choose to make inter vivos gifts to charities as a way to support causes they care about during their lifetime.