Gifting Agreement Template (Cash or Asset)

What Is the Gifting Agreement?

A Gifting Agreement is a legally binding contract that documents the transfer of cash, real property, personal property, or financial assets as a completed gift with no expectation of repayment. It establishes the gift's irrevocable nature, clarifies tax obligations, and creates a permanent record that protects both donor and recipient from future challenges.

Without this agreement, your gift exists in a legal gray area. Is it a loan? An advancement on inheritance? Subject to creditor claims? The ambiguity causes problems when you apply for Medicaid, when family relationships change, or when your estate is settled. This template eliminates uncertainty by documenting exactly what you're giving and under what terms.

 

 

Is This Gifting Agreement Right for You?

You need this agreement if you're:

• Making a cash gift over $10,000 to family or friends
• Transferring real estate or vehicles as gifts
• Giving stocks, bonds, or other financial assets
• Making down payment gifts to children buying homes
• Documenting gifts to avoid loan repayment claims later
• Transferring assets as part of estate planning strategy

You definitely need this agreement if:

• The gift exceeds annual IRS exclusion amounts requiring tax reporting
• You might apply for Medicaid within five years
• Creditors could challenge the transfer as fraudulent
• You want the gift separate from recipient's marital property
• Family members might later claim the transfer was a loan

 

 

Why Thousands Trust Legal GPS Templates

Save Money: Estate planning attorneys charge $300-800 to draft gift documentation. Get comprehensive protection for $35.

Save Time: Download instantly and complete in under an hour with our detailed guidance materials.

Look Professional: Attorney-quality language that the IRS, Medicaid, and courts recognize as proper gift documentation.

Keeps You Out of Court: Explicit gift characterization provisions, detailed tax allocation clauses, creditor protection representations, and advancement-on-inheritance options prevent the disputes that lead to estate litigation.

 

 

 

Get Protected in 3 Simple Steps

Step 1: Secure Checkout

Purchase securely online and receive instant access to your template.

Step 2: Instant Download

Download the Gifting Agreement template immediately in an editable format.

Step 3: Fill In the Highlighted Fields

Complete the bracketed sections with gift details, tax information, and relationship terms. Both parties sign, and your gift is properly documented.

 

Frequently Asked Questions

Can I use this template multiple times?

Yes. Once purchased, you own this template permanently and can use it for multiple gifts to different recipients or modify it as your circumstances change.

Is this contract legally binding?

Yes. When both parties sign this agreement, it creates a legally enforceable contract that establishes the transfer's gift nature and prevents future claims that it was a loan requiring repayment.

Do I need this if I'm giving money to my own child?

Absolutely. Family gifts create the most disputes. Without documentation, your estate might be required to collect the money as a loan after your death, or siblings might challenge whether it was an advancement on inheritance. Proper documentation prevents family conflict.

Will this protect me if I apply for Medicaid later?

The agreement documents that you made an intentional gift, which is better than no documentation. However, gifts made within five years before Medicaid application trigger penalty periods regardless of documentation. Consult an elder law attorney before making substantial gifts if Medicaid is a possibility.

What's the difference between this and a promissory note?

A promissory note creates a debt obligation requiring repayment. A gifting agreement establishes there is no debt and no repayment obligation. Use this when you're truly giving money away. Use a promissory note when you expect to be paid back.

Do I need to file a gift tax return?

Gifts exceeding the annual exclusion ($18,000 in 2024, $19,000 in 2025 per recipient) require filing IRS Form 709, but you likely won't owe tax unless you've exhausted your lifetime exemption. Consult a tax advisor for gifts over the annual exclusion amount.