Understanding Donations: Types, Legal Requirements, and Tax Implications

With a gift, the donor wants to give the recipient a right or thing free of charge. A distinction is made between lifetime donations and donations upon death.

Civil law requires the donation to be notarized. However, a formal deficiency will be remedied by completing the donation.

A gift is generally subject to gift tax. Advice from a tax advisor/lawyer is therefore recommended in order to make the process legally compliant and tax-efficient.