Gift Law Quotes

“Frequent suggestions were made during the course of the trial that the motives of the donor and the donees alike, in carrying out this transaction, were to escape death duties. I feel constrained to dispose once and for all of these suggestions by the short answer that the existence or otherwise of such motives is irrelevant, excep as evidence for or against the bona fides of the transactions. There is the highest authority for the proposition that, if a man can lawfully so order his affairs that the payment of revenue duties of any kind is reduced or avoided altogether, there is no legal objection to his doing so. Whatever may be thought as the the morality of such transactions in these times from the point of view of patriotism and public spirit, there is no ground for ignoring their legal effect, unless such transactions be proved to be amere sham, such as those falling within the words 'not bona fide' in the act of 1894, or the phrase 'artificial transaction' in the Finance Acts of more recent years.

Attorney General vs. Goneril Albany in re the estate of King Lear, MORE LEGAL FICTIONS”
― A. Laurence Polak