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Simple English definitions for legal terms

lifetime gift

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A quick definition of lifetime gift:

Term: Lifetime Gift

Definition: A lifetime gift is a present given to someone while the giver is still alive. It is also called an inter vivos gift. This is different from a gift given after the giver has passed away, which is called a testamentary gift.

A more thorough explanation:

Definition: A gift given during a person's lifetime. See inter vivos gift under gift.

Giving your child a car for their 18th birthday is a lifetime gift.
Donating money to a charity while you are still alive is also a lifetime gift.

These examples illustrate that a lifetime gift is a gift given while the giver is still alive. It can be given to a family member, friend, or even a charity. It is different from a gift given in a will, which is given after the giver has passed away.

life table | lifting costs

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

shaquilleoatmeal

11:40

i said at the end of the cycle, whats the rush baby

Mostlylegal

11:40

i want in >:(

shaquilleoatmeal

11:40

morning dino

Trismegistus

11:41

DOES MY WE EVEN MATTERRRR

lilypadfrog

11:41

@Trismegistus: u always crashing out. when I get annoyed I just bully Shaq you should try that

windyMagician

11:42

idk im having a good cycle

shaquilleoatmeal

11:42

lmfao, seems to work, u should try it @tris

Mostlylegal

11:42

bullying is the finest form of flirting there is

cumsock

11:43

damn most recent spivey blog hurting my soul

cumsock

11:43

ig this cycle really is tough

shaquilleoatmeal

11:43

@lilypadfrog: u know what they say about woman who are mean to men right 😉😚

shaquilleoatmeal

11:43

legal said it, i didnt lmao

Trismegistus

11:43

@lilypadfrog: the anxiety of not having a single decision is really getting to me

Trismegistus

11:43

im starting to tweak

Trismegistus

11:44

i can't bully shaq, fellow boston resident

TreponemaPallidum

11:44

Penne Penne Penn?

whenpigsfly

11:44

omg penn

shaquilleoatmeal

11:44

@Trismegistus: real one

Trismegistus

11:44

thats only one person tho

Mostlylegal

11:45

MASSIVE penn wave

Trismegistus

11:45

does penn call or portal?

lilypadfrog

11:46

@Trismegistus: twin when did you apply? I applied in mid nov

cumsock

11:47

35% spike in applicants this cycle what the fuckkkkk

Mostlylegal

11:47

i applied 5 days ago, should i be worried i missed this wave

Trismegistus

11:47

all my apps are oct- to mid nov, except nyu which was dec

Trismegistus

11:47

penn was oct

PuppyBot

11:47

why does everyone want to be a lawyer

PuppyBot

11:47

jacking my style all of a sudden

cumsock

11:49

"But I also want to end on this note. Don't be afraid of being wrong. And what I mean by that is, being wrong about a school. I applied to Princeton coming out of high school and didn't get in. I ended up going to Vanderbilt. I could never see myself having gone anywhere but Vanderbilt." -Spivey

cumsock

11:49

this type of advice makes me so pissed like brotha

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