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.