As one generation ages, they transfer their wealth and gifts to their next generation comprising of children, grandchildren.
Many other persons prefer to transfer assets to their beneficiaries in the form of gifts. When an asset is gifted, it gets removed from the transferor’s estate. In many circumstances, younger family members may choose to request for an advance on their inheritance to purchase high-value assets such as a home, invest in business or other ventures.
Transfer of an Asset
Transfer of an asset needs to be done in a clear and legal manner to control all risks arising from the transaction. It is recommended to speak with an experienced Estate Lawyer well versed with performing intervivos gifts transactions.
At Nanda & Associate Lawyers, our capable lawyers can help with creating and implementing simple and complex estate planning. Our knowledgeable lawyers will guide you throughout the estate planning process and make sure that a transfer is set up or challenged as needed. We can even help you defend against the challenge by anyone else.
Create Your Intervivos Gift or Wealth Transfer
It is essential that an intervivos gift is made only after reviewing its consequence and possible impact so that the Wealth transfer is not left open to any future challenges.
Our well-informed Estate Lawyers will assist you in making your estate plan. Any intervivos gift has to satisfy laid down standards for it to be valid and upheld post your death. We help you ensure that your last wishes are upheld and your estate assets are distributed as you wish.
Intervivos gift or wealth transfer Challenges
In many circumstances, elder financial abuse may cause an older person with health and capacity concerns to transfer their wealth in bad faith. It is possible that the older person may have been deceived or manipulated in order to make the wealth transfer.
There have been many similar cases in Ontario where dishonest families or friends have taken control of assets by taking advantage of uncertain circumstances.
Few persons also transfer assets to beneficiaries, before their death to avoid estate tax payment. The beneficiaries can also claim survivorship right of those assets at a later date, even when the deceased did not intend to make such a gift.
A wealth transfer can be challenged on many grounds including but not limited to undue influence or the transferor’s claim to lack capacity. It may be presumed that the assets were held for the estate in trust or other remedies.
At Nanda Associates & Lawyers, our capable Estate Lawyers can assist you in challenging an intervivos transfer and ensure that your loved one is not betrayed by any person. You can make sure that their estate assets are transferred just as they desire and their wishes are upheld.
How We Can Help
At Nanda & Associate Lawyers, our experienced Trusts and Estate Lawyers understand your specific circumstances and provide you with cost-effective and customized estate planning solutions for each of them. We can support you to plan your wealth transfer or intervivos gift in a manner to safeguard your interests and eliminate chances of any potential legal challenges.
Our Mississauga Wills and Estate Lawyers are available for a consultation. Come and experience our quality legal advice and personalized care we provide to each client. We ensure prompt communication and a professional approach to achieve successful outcomes for you.
Feel comfortable interacting with our caring team who speak more than 15 languages like English, French, Spanish, Italian, Portuguese, Albanian, Hindi, Punjabi, Kannada, Telugu, Tamil, Bengali and much more.
