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buesparrow Asked July 2014

My Dad gifted his money to his grandchildren before passing away. He wrote gifting statements instead of a Will. Is this legal?

My father passed away, I was his POA. He was a difficult man and rest of family wanted nothing with him, they did not like him, when nobody was there for him just me, he felt abandoned and told me you better not give any of my money to these people, I advised him , since you don't have a will or anything, I don't really know what happen, so he said im gifting all money to grandchildren and you, so we wrote gifting statements and he signed them, is this legal what we did? Also for some reason he did not want his money in his account because of social security pension, he thought the government was going to take it, he made me put it in another account, the only half brother is asking me questions of missing money, do I have to tell him that dad gifted me money since he was not there when he died, he told me don't bother me, I have a sick feeling in my stomach. Family is mad, these are his wishes.

EXPERT Carol Bradley Bursack, CDSGF Jul 2014
This is tricky. It would have been better if the gifting statements had been notarized. However, this may still stand up unless it goes to court. As far as the other account, you may need legal advice.

It's sad since your dad wanted you to have his money. So much depends on whether anyone is willing to take this to court. You may want to see an elder law attorney to see what your options are.
Good luck,
Carol

notrydoyoda Jul 2014
I think that you will need to tell him the truth about the missing money. I don't know about the legality of the gifting statements, but they sound ok. Was the money gifted using a check? What other account did you put the money in?

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