Gift or testament - which is better? This question is often pondered by both heirs and testators. Each of the documents has its own advantages and disadvantages. But it is important to understand them very clearly if there is a strong desire and intention to leave your property to a specific person and no one else.
The essence of the actions performed by both of these documents is the same. Both the donation and the will have as their purpose to transfer the property of one person for the use of another, excluding third parties. However, sometimes, when drawing up a document, a misunderstanding may arise both on the part of the client and on the part of the notary who draws up this document. And in order to avoid this, it is better to determine in advance for yourself which form of transfer of property you want to choose.
Gift certificate: nuances
Donation is also called a donation contract. Usually this document is used when you need to legitimize a very expensive and very valuable gift. For example, a painting by a famous artist. If you do not draw up all the documents for it correctly, troubles may arise that will be associated with proof that the gift belongs to this or that person. The donation agreement helps to resolve various misunderstandings between the parties and third parties.
Today, the subject of a donation agreement can be not only valuable items, precious stones, etc., but also property, the right to manage a company and much more.
From a legal point of view, a donation agreement is concluded between two parties - the donor and the donee. In this case, the donee is released from any obligations of the property plan in relation to the donor. A donation agreement is drawn up only with the consent of both parties. It is impossible to do it unilaterally. Registration of ownership is also a prerequisite, if the contract refers to an object of this nature.
Will: nuances
In the case of drawing up a will, we are talking about a document that regulates the transfer of property from one person to another only after the death of the first. The drawing up of a will does not require the consent of the other party, therefore, the text and meaning of such a paper often comes as a surprise to all heirs.
The text of the will can be easily changed. Moreover, there can be as many adjustments as the person who writes it wants. Very often the text is completely rewritten depending on the circumstances.
All changes, corrections and revisions must necessarily take place in the presence of a notary, who will record that the expression of will was independent and free.
When drawing up a will, it should be taken into account that all obligatory heirs, the list of which is strictly determined by the state, must be mentioned in it. These are minors and disabled citizens, spouse, parents, dependents of the testator. If you forget to make the appropriate notes, the will can be easily challenged.
What is better to use
The choice of the best solution depends on how urgently you want to transfer your property. If you need to do this right away, it is better to use a deed of gift. If there is no rush, and you can wait, a will with a delayed effect will do.
It should be borne in mind that a deed of gift may also have a postponed period, provided that the documents specify the transfer of property or property rights to the donor only after the death of the donor.
You also need to remember that when making a donation, you will have to pay tax, and in the case of a will, the heirs transfer the rights and obligations not only in relation to the property of the testator, but also to his debts.
