(called a gift causa mortis by lawyers showing off their Latin), a gift of personal
property (not real estate) by a person expecting to die soon due to ill health or
age. Federal tax law will recognize this reason for a gift if the giver dies within
three years of the gift. Treating the gift as made in contemplation of death has
the benefit of including the gift in the value of the estate, rather than making
the gift subject to a separate federal gift tax charged the giver. If the giver
gets over an apparently mortal illness, the gift is treated like any other gift
for tax purposes.
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