Document background
The Irrevocable Inter Vivos Deed of Gift is a crucial instrument in English and Welsh property law, utilized when a permanent transfer of assets is desired during the donor's lifetime. It serves various purposes, from estate planning to tax efficiency and family wealth distribution. The document must be properly executed as a deed, witnessed, and delivered to be effective. Unlike a will or testament, it takes immediate effect and cannot be reversed. The deed should clearly identify the parties, describe the gifted property, and include explicit statements about the irrevocable nature of the transfer. It's particularly important to consider tax implications, including inheritance tax and capital gains tax, when executing such a deed.
