What distinguishes a conditional gift from a regular bequest?

A conditional gift is characterized by its dependence on the occurrence of a specified event or condition. This means that the gift is only effective if the condition is met; for example, a donor may stipulate that the gift will only be given if the recipient graduates from college. This contrasts with a regular bequest, which typically does not entail any conditions that must be satisfied for the transfer of property to be valid.

In the context of estate planning and wills, a conditional gift can create complexities, especially when the specific event is uncertain or subject to interpretation. The distinctive nature of conditional gifts makes them an important consideration in legal matters surrounding wills and trusts, aligning closely with the intentions of the donor while also ensuring that the recipient meets the prerequisites set forth.

Value, number of witnesses, and the ability to revoke the gift do not inherently define a conditional gift. A conditional gift may be the same size as or smaller than a regular bequest, witness requirements can vary based on jurisdiction and the nature of the document, and gifts can often be revoked unless specifically protected by legal statutes.