A Lifetime Transfer That Is Supported by Full and Adequate

question 133

True/False

A lifetime transfer that is supported by full and adequate consideration is not a gift.

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Definitions:

Siblings

Brothers or sisters who share one or both parents in common.

Primary Caregiver

An individual, often a parent or family member, who takes the main responsibility for providing care and meeting the daily needs of a child or dependent adult.

Adult Siblings

Brothers and sisters who have reached adulthood, maintaining familial relationships beyond childhood.

Adult Children

Individuals who are legally adults but are considered children in relation to their parents or guardians.