What is the name of your state? Ohio
A few months before he suddenly died (testate), my father helped my sister out financially with $10,000. To make a long story short, she got criminally swindled and needed this money to save her house from foreclosure. Even when asked, he would not commit to whether this was a gift, a loan, or an advance on her share of the inheritance. Is there any legal designation of such a transfer, absent any paperwork to the contrary? As the estate's executor, I'm willing to consider it a gift and let it pass, distributing up the residual estate as specified in the will. Is this OK?
A few months before he suddenly died (testate), my father helped my sister out financially with $10,000. To make a long story short, she got criminally swindled and needed this money to save her house from foreclosure. Even when asked, he would not commit to whether this was a gift, a loan, or an advance on her share of the inheritance. Is there any legal designation of such a transfer, absent any paperwork to the contrary? As the estate's executor, I'm willing to consider it a gift and let it pass, distributing up the residual estate as specified in the will. Is this OK?