Gifts of $200+

[browneyes]

I see on our lawyer's form they ask for any gifts aggregating $200 or more in the last year.

If I count kids b-day and Christmas, it is over 200. What do they do with this information?? Just curious.

[Flamingo]

The main reason is to see if you are trying to transfer money/assets to others in preplanning to file BK; i.e., fraud.

[browneyes]

So are they going to not like the 350 a piece on 2 kids for the whole year? Hubby and I haven't bought each other gifts for about 3 years due to money, but we scraped to give to the kiddos.

[Tbornetun]

Did you give the kids cash? Purchase them something that could be resold for that amount or more?

If you are talking about Christmas and birthday gifts for the kids over the course of a year, don't worry about it. No need to list it.

1 tonka truck $30
1 big box of legos $40
Etc.

[browneyes]

No cash, just kiddo toys.

Thanks.

[Flamingo]

So are they going to not like the 350 a piece on 2 kids for the whole year? Hubby and I haven't bought each other gifts for about 3 years due to money, but we scraped to give to the kiddos.

That's normal stuff...they are interested in your gifting or transferring assets like cash out of accounts, property, jewelry, etc. They are not interested in kids trucks or Miley Cyrus trinkets. Just list what your normal amounts are/have been for gifts and to whom over $200 for the past year and you should be fine. Just don't hide anything and be totally honest.