gift in contemplation of death
Definition from Nolo’s Plain-English Law Dictionary
A gift of personal property (not real estate) by a person expecting to die soon. If a gift is made in contemplation of death, it is included in the value of the deceased person's estate for federal tax purposes. In Latin, called a gift causa mortis.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:16 pm