IMMEDIATE GIFTS – where there is an immediate gift to a class, the class closes as soon as any member can demand possession, either at the T’s death or later.
1. EXCEPTION – if no members of the class have been born before T’s death, the class does not close until the death of the designated ancestor of the class.
2. Rationale – since testator must have known there were no class members alive at his death, it is assumed the testator intended class members, whenever born, to share
3. Example – testator bequeaths 10,000 “to the children of B.” B is alive and has two children, C & D. C & D demand immediate possession of their shares. The class closes and $5,000 goes to each. A year later E is born but does not share.
We have located some similar legal questions and legal question categories. Check out these challenging questions that askquestions about Gifts and are similar to What is meant by IMMEDIATE GIFTS ?. Also, we have included a list of some of our more popular legal question categories. These categories are based on what everyone is asking and answering.
What's Your Answer to "What is meant by IMMEDIATE GIFTS ?"