<span id="hs_cos_wrapper_name" class="hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text" style="" data-hs-cos-general-type="meta_field" data-hs-cos-type="text" >A Check as a Gift: The Court of Appeals Opines</span>

A Check as a Gift: The Court of Appeals Opines

How nice, a friend gives you $1,000,000 as a gift!!! 
How sad, that friend dies before you cash the check and the account gets closed!!
What happens?  Do you have a claim for the check?  According to the Court of Appeals, you do not!  The reason is that in order for a gift of that nature to be finalized, total control of the funds must be relinquished.  Since the check is an instrument capable of being canceled, or the account upon which it is drawn closed before the funds leave the account, there has not been finalization of the gift.
This is not specifically in one area of my practice or another, but it is a very interesting little lesson.  There is great value in a mutli-disciplinary practice.  I see many things, I bring ideas and theories from one area to another, and it broadens the thinking.
Hope you enjoy the little tidbit here.  Stay creative in your thinking and business; I bet it will keep you ahead of the crowd!

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