Q: I want to make a $5,000 gift to the daughter of my best friend as her separate property wedding gift,BEFORE the wedding
The state is Colorado.
1. What specific language should I use on the check to ensure it is her separate property, e.g. 'Jane Doe as her separate property'?
(Has to fit on the check.)
2. Although I'll be sending the check 3 weeks before the wedding, does it matter of she cashes it AFTER the wedding?
3. Does it matter if she deposits the check into their joint checking acct, even tho check specifies it's her separate property?
Nb: no worries about gift tax; it's the only gift I have, or will, give her until I die.
Thank you very much.
A: You do not need any special language. It does not matter when she cashes the check. The key is that she needs to put it into a separate account in her name only. If she puts it in a joint account with her husband, it will be considered marital property in the event of a divorce.
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