Is it legal to transfer my savings to my loved ones before i ctb?

[mortalityisbadass]

Title mainly sums it up. I'm worried my partner wouldn't be able to financially support themselves alone. My previous plan was to transfer my savings before I leave, but I'm not sure if they can keep the money legally if I CTB. I've only recently had life insurance from my work, but the company might not pay because of a suicide clause.

Any advice or info would be appreciated.

Edit for more info: I live in the US, unmarried, and I don't have a will.

 

[Leichter Kampfwagen]

Who else would it go to? Are you married?

 

[SVEN]

Sure, in the UK where I am. Your legal property, you may dispose as you wish as long as it is not to avoid inheritance tax. Depending on the legal standing of your partner and you, above a certain limit could be taxable.

 

[TheHolySword]

Why would they not be legally entitled to the money you're giving them? Unless I'm missing context, your death doesn't reverse actions you took while alive.

 

[Forveleth]

It depends on a number of things, not the least of which are laws where you live. It depends on if you are married, etc. Do you have a will?

 

[Richard Langford]

I would have thought you could give it to a Dogs Home if you wanted. Its your money. Are you worried others will contest your decision down the road?

 

[mortalityisbadass]

Title mainly sums it up. I'm worried my partner wouldn't be able to financially support themselves alone. My previous plan was to transfer my savings before I leave, but I'm not sure if they can keep the money legally if I CTB. I've only recently had life insurance from my work, but the company might not pay because of a suicide clause.

Any advice or info would be appreciated.

It depends on a number of things, not the least of which are laws where you live. It depends on if you are married, etc. Do you have a will?

I would have thought you could give it to a Dogs Home if you wanted. Its your money. Are you worried others will contest your decision down the road?

My family might try to contest it or try to get my partner into legal trouble. They don't approve of our relationship and I wouldn't put it past them to accuse them of assisting in my death.

 

[Richard Langford]

Is it hundreds of thousands? Can you take it out in cash?

 

[Forveleth]

If you give them money before you die (as in a cash transfer), the bank is not going to come back and take it away because you killed yourself. It is their money as soon as you give it to them and no longer has anything to do with you.

If you do not have a will or are unmarried, however, I do not know if your partner will have any claim over your possessions/finances. Especially if your family could try to contest it. If you really want things to go to your partner, you need to have a legal will.

Also, please go consult a legal professional that practices where you are. A suicide forum is not a good place for legal advice.

 

[Richard Langford]

If you give them money before you die (as in a cash transfer), the bank is not going to come back and take it away because you killed yourself. It is their money as soon as you give it to them and no longer has anything to do with you.

If you do not have a will or are unmarried, however, I do not know if your partner will have any claim over your possessions/finances. Especially if your family could try to contest it. If you really want things to go to your partner, you need to have a legal will.

Also, please go consult a legal professional that practices where you are. A suicide forum is not a good place for legal advice.

That's sound advice.

 

[mortalityisbadass]

If you give them money before you die (as in a cash transfer), the bank is not going to come back and take it away because you killed yourself. It is their money as soon as you give it to them and no longer has anything to do with you.

If you do not have a will or are unmarried, however, I do not know if your partner will have any claim over your possessions/finances. Especially if your family could try to contest it. If you really want things to go to your partner, you need to have a legal will.

Also, please go consult a legal professional that practices where you are. A suicide forum is not a good place for legal advice.

Thank you for the info!
This was mainly what I was looking for. Google wasn't doing much for me.

 

[alienfreak]

If you give them money before you die (as in a cash transfer), the bank is not going to come back and take it away because you killed yourself. It is their money as soon as you give it to them and no longer has anything to do with you.

For any large amount they might ask the recipient or sender about the purpose and source of the funds; without documented reasons that could prove problematic.

 

[Richard Langford]

For any large amount they might ask the recipient or sender about the purpose and source of the funds; without documented reasons that could prove problematic.

Just withdraw it and physically give it. Can't see a problem with that.

 

[tiredash]

Just withdraw it and physically give it. Can't see a problem with that.

This, and forget about legal bullshitery. Even better, get a credit, give it to them. They reject the inheritance which is only debt and keep the money. Maybe check this thing about rejecting inheritance with a lawyer, im not sure if it works the same in all countries.