Gift Causa Mortis

DEFINITION of 'Gift Causa Mortis'

A gift to be given at a later date in anticipation of the giver's death. If the giver dies of an ailment differing from the expected one, the gift is not effective. The gift may be revoked by the giver on any date prior to the expected date as long as no property, whether concrete or symbolic, has been delivered to the recipient.

BREAKING DOWN 'Gift Causa Mortis'

A gift can be given causa mortis (in anticipation of the death of the grantor) or inter vivos (during the life of the grantor). A gift causa mortis is taxed under federal estate tax law in the same way as a gift bequeathed by a will.

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RELATED FAQS
  1. How does the gifting process work with a deed transfer?

    My parents own a home that they would like to "gift" to my husband and me. The house is in my parents name and they want ... Read Answer >>
  2. If a parent transferred a house deed to their three adult children, do they need ...

    Currently, only the parents Read Answer >>
  3. Can I give stock as a gift?

    Stocks, bonds or any other securities can be transferred as gifts. Giving the gift of stock also has benefits for the giver. ... Read Answer >>
  4. How can my husband inherit a house deed?

    My mother in law wants to know the best way to leave the deed to her house to her son (my husband). Should it be left in ... Read Answer >>
  5. Justin and Britney, multi-millionaires, want to make the maximum gift of cash to ...

    The correct answer is c. A donor of money and/or gifts may give up to $12,000 to as many different recipients as they desire ... Read Answer >>
  6. Who will pay taxes on my grandmother's home?

    I don't own a home, but I have the power of attorney for my grandmother who will be going into a nursing home. I've decided ... Read Answer >>
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