Transfer in contemplation of death
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A transfer in contemplation of death is a transfer of property made by a person in the expectation that he or she will shortly die.
Under some circumstances, the transfer may be cancelled revoked in the event that the person does not die within the expected timeframe.
Legally, difficulties can arise as to whom the beneficial title to the transferred assets is vested in until the donor actually dies, which in turn can give rise to tax complications.
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