Stocks as a gift & separate property proof


#1

Dear philzone:

Greetings. Yes, this letter should be sufficient to prove that the stock is a gift. The person who transferred it to you (your dad) may be able to obtain documents showing the transfer.

Also, if the property is transferred to you from you dad, it is separate property even if there is not a note saying it is a gift. Your dad can always testify it was a gift. If you have jointly titled the stock, then it is my opinion that you need a gift. Smooth sailing!

Janet L. Fritts
Attorney with Rosen Divorce
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
RosenDivorce.com
919-787-6668

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#2

Greetings,

I was given some stocks as a gift from my family. Unfortunately, the only proof I have that the stocks were a gift is a handwritten note from my father that is dated, signed, postmarked, and references the stocks and number of shares. The note does not explicitly state that the stocks were a gift, but was addressed to me.

In your opinion, would this alone serve as reasonable proof that the stocks were a gift, and thus separate property? Or should I get an affidavit of gift to further support my claim?

As always, your comments and opinions are greatly appreciated.

My best regards,
Philzone