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Gifting letter for son


attackcat1
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Hi

Now that this is getting close, I am thinking about gifting some dinars to my son, before they RV.

I know I need to get it notarized.

Does any one know?

Is there a "form letter" around, or if I just put one together, any thoughts on how to word it to be legally correct? He'll need to take it to the bank with him when he cashes in to show the date and how he received them.

Do I bring the dinars with me to the notary?

Does my son have to be with me at the notary?

I figure I better do this tomorrow, so if any can give me some imput it would be appreciated.

By the way, the people on this site are awesome. I have learned so much, still learning, from Adam and you guys. Thanks! :D

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I am a notery and I can tell you that all a notery does is "witness" that you are you and that you are making this decision on your own without anyone making you do it. You would not have to have the dinar there and your son wouldnt have to be there. As for the letter i am not sure. I would think that just a gift letter would be fine kind of like a bill of sale. I xxxxx gift to xxxx $$ Dinar on todays date and then sign and date it in front of the notery.

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A Dinar is like a dollar bill,,,,,,, it is the instrument of the bearer. He does not need anything like that to cash in. He would not need a notarized letter to cash a $100dollar bill would he? The only thing he would need it for is TAX purposes as if he has held it for a year the cap gains is 15% and less than a year 35%.

Think I am correct on this. Anyone else care to chime in?

Edited by Goeers
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A Dinar is like a dollar bill,,,,,,, it is the instrument of the bearer. He does not need anything like that to cash in. He would not need a notarized letter to cash a $100dollar bill would he? The only thing he would need it for is TAX purposes as if he has held it for a year the cap gains is 15% and less than a year 35%.

Think I am correct on this. Anyone else care to chime in?

That sounds right to me as well. The only other thing that he might need when cashing in is a copy of the receipt from where she purchased her dinar. Some are saying now that we may not even need that. However I certainly hang on to all of mine.

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Hi

Now that this is getting close, I am thinking about gifting some dinars to my son, before they RV.

I know I need to get it notarized.

Does any one know?

Is there a "form letter" around, or if I just put one together, any thoughts on how to word it to be legally correct? He'll need to take it to the bank with him when he cashes in to show the date and how he received them.

Do I bring the dinars with me to the notary?

Does my son have to be with me at the notary?

I figure I better do this tomorrow, so if any can give me some imput it would be appreciated.

By the way, the people on this site are awesome. I have learned so much, still learning, from Adam and you guys. Thanks! :D

It looks like you are a VIP. If so, all of your questions are answered in the VIP section. Look in the Pinned Topics. :hug:

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