Free Gift Deed

Answer a few simple questions Print and download instantly It takes just 5 minutes

Create Your Free Gift Deed

Answer a few simple questions
Email, download or print instantly
Just takes 5 minutes

Gift Deed

Create your Free Gift Deed

Do you want to be able to revoke this gift?

A Gift Deed is useful for giving delayed gifts.

Yes

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Frequently Asked Questions

When should I use a gift deed?You should use a gift deed when you want proof that a gift is being made without payment required and without conditions attached. It is also useful for giving a gift that will be received at a later time.Can I use a gift deed to donate to charity?Yes. You can use a gift deed to donate property or make a monetary gift to a charity.What is a revocable gift?When you use a revocable gift deed you reserve the right to cancel the gift at any time before the property is transferred to the recipient.

A revocable gift counts towards the value of your estate. If you want to reduce the size of your estate for tax purposes then you should use an irrevocable gift.

Your Gift Deed

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IRREVOCABLE INTER VIVOS

DEED OF GIFT

FROM: __________

TO: __________

THIS IS an irrevocable inter vivos Deed of Gift given by me, __________, of __________, Australian Capital Territory, Australia. My purpose in completing this document is to give effect to my wishes regarding gifts I wish to make during my lifetime to family and friends. To that end, I provide as follows:

I REVOKE all prior dispositions of every kind previously made by me respecting the subject matter of this irrevocable Deed of Gift, whether by a previous Deed of Gift or contained in my Will.
I APPOINT __________, of __________, Australian Capital Territory, Australia to carry out my instructions in this irrevocable Deed of Gift. If __________ has predeceased me, or declines to act as my Agent, or becomes incapable of completing his or her duties, then I appoint __________, of __________, Australian Capital Territory, Australia to be the Agent of this irrevocable Deed of Gift instead of __________, and I declare that the expression "Agent" wherever used throughout this irrevocable Deed of Gift means any alternate Agent.
I GIVE to my Agent all of the property specified in this irrevocable Deed of Gift upon the following trusts:
1. If I have died, or if I have lost contractual capacity, my Agent will transfer the following property to the respective donee, __________ of __________, Australian Capital Territory, Australia as soon as possible: $__________ Australian Dollars.
2. If __________ has predeceased me:
  1. if I am still living, ownership of the property specified will revert to me or my legal personal representative(s); or
  2. if I have died, the property will revert back to my estate and will be dealt with according to the provisions of my Last Will and Testament.
I declare that, by delivering this irrevocable Deed of Gift to __________, I will be transferring legal ownership of the property to __________, even though I may continue to retain possession of the property. When I die or have lost contractual capacity, I direct my Agent to deliver the property to __________ for his or her own use free and clear of all claims that may exist at that time against me or my estate.
In addition to any power conferred on my Agent by any statute or law, my Agent's powers will also include:
1. without the consent of any person interested under my Last Will and Testament or other legal document, to make any agreement with any other person or company, and to compromise, settle or waive any claim or claims at any time and from time to time due to or by my estate in connection with the property referred to in this irrevocable Deed of Gift;
2. to join in or take any action in connection with property held by my estate which forms the subject matter of this my irrevocable Deed of Gift, or to which my estate may be entitled, and to exercise any rights, powers and privileges which at any time may exist or arise in connection with such property;
3. to do, on my behalf, any and all acts, which I could do if capable, subject to any conditions and restrictions contained herein and, without limiting the generality of the foregoing, to demand, recover and receive from all and every or any person or persons whosoever any investment or asset which forms the subject matter of this my irrevocable Deed of Gift. In the event that this irrevocable Deed of Gift is activated by my loss of mental capacity, my Agent shall have the authority to act as my litigation guardian, if one is required to commence, continue, defend or represent me in any Court proceeding concerning any investment or asset held by my estate, or to which I may be entitled, which forms the subject matter of this my irrevocable Deed of Gift;
4. in the event that this irrevocable Deed of Gift becomes effective on my death, to join in or take any action in connection with any property held by my estate which forms the subject matter of this my irrevocable Deed of Gift to ensure that the same is withheld from any division, allocation or distribution of my estate, or of any part thereof, so as to prevent the said investment or asset from being deemed to fall into my residuary estate, and accordingly be subject to the rules of testamentary succession; and
5. in case of any difference or dispute with any person or persons concerning the subject matter of this irrevocable Deed of Gift, to submit any such differences and disputes to arbitration or mediation in such manner as my said Agent shall see fit.
Any person acting as an Agent pursuant to this irrevocable Deed of Gift will be entitled to be reimbursed for all expenses incurred in doing so, and in the event that he or she wishes, will be entitled to be paid for his or her efforts in so doing, according to the usual scale of fees relating to such activities as if they had been carried out in the context of the administration of an estate, as it is not my intention that any person named as an Agent will be placed in a position where the discharge of his of her duties as an Agent causes him or her financial loss.
The provisions of this irrevocable Deed of Gift and any disputes which may arise will be interpreted, construed or determined in accordance with the laws of Australian Capital Territory.
I indemnify and release my Agent from any liability which may result from his or her carrying out my instructions in this matter. I instruct any person acting on my behalf pursuant to a Power of Attorney, if I am still alive, or appointed pursuant to any testamentary document if I have died, to hold my Agent fully harmless out of the proceeds of my estate from all costs and expenses incurred by him or her in doing so.

SIGNED, SEALED, AND DELIVERED by __________ in __________, Australian Capital Territory, Australia this ___ day of ______________________, _______.

_______________________
__________

SIGNED, SEALED, AND DELIVERED by __________ as and for his or her irrevocable inter vivos Deed of Gift in the presence of us both present at the same time, who at his or her request, in his or her presence, and in the presence of each other, have hereunto subscribed our names as witnesses.

___________________________________
(First witness)

___________________________________
(Second witness)

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Last Updated February 27, 2024

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What is a Gift Deed?

A Gift Deed (also called a Deed of Gift) is a document you can use to transfer sums of money or property to another person or organization. Family members will often use a Gift Deed to transfer gifts to other family members (such as a parent to a child). The document can also be used to make a donation to a charity.

A gift is defined in Australia as income or an asset someone transfers or sells for less than its value or nothing in return. A Gift Deed is proof that a donor gave a gift without any conditions nor in exchange for compensation.

In a Gift Deed, the person giving the gift is known as the donor, while the person or group receiving the gift is known as the recipient or donee. The donor also needs to name an agent, who acts on their behalf to ensure the gift gets into the recipient's hands. This process is particularly important when a minor is receiving the gift.

If you prefer to transfer property to a person or organization after you’ve passed away, you can include these in your Last Will and Testament.

What types of gifts can I use a Gift Deed for?

Donors often use Gift Deeds for transferring money or property to a family member, friend, or organization. The types of gifts commonly transferred include:

Charitable donations: Donate to a charity that means a lot to you. You can give the charity a cash donation or give it a valuable item they can sell or auction for money.

Family heirlooms: It can be more satisfying and memorable to transfer ownership of a treasured family heirloom while both the donor and recipient are still alive, rather than having the item bequeathed in a Last Will and Testament.

Pre-estate bequests: The money or items listed in your estate plan are no longer considered a part of that document or your estate if you use an irrevocable Gift Deed to transfer them to a person or organization before you pass away. An irrevocable Gift Deed can also potentially keep a specific item from being contested in your Last Will and Testament.

Real estate: You can transfer real estate or property (house or a piece of land) to a recipient. However, keep in mind that the recipient may have to pay stamp duty on the market value of the gift and capital gains tax (CGT).

Who is eligible to use a Gift Deed?

Any person over the age of 18 who owns property can use a Gift Deed to give their property or savings to another person or organization. Minors can’t use Gift Deeds, but they can receive a gift in a Gift Deed through a legal guardian.

What information should be in a Gift Deed?

Your Gift Deed should include the following information:

Whether you can revoke the Gift Deed
Type of gift: monetary or non-monetary
Recipient’s information, including whether they are an individual or a charity
Donor’s information
Agent’s information

What’s the difference between a Gift Deed and a Last Will and Testament?

The main difference between a Gift Deed and a Last Will and Testament is when the property transfer occurs. A Gift Deed transfers money or property to the recipient while the donor is alive, while the Last Will transfers the items after the donor passes away.

An advantage of using a Gift Deed to transfer assets rather than a Last Will is that it decreases your estate's size and reduces estate taxes.

A Last Will also goes through probate, where a judge decides if it's a valid document, while a Gift Deed doesn’t need to go through probate.

Can I cancel a Gift Deed?

It’s possible to cancel a Gift Deed as long as you haven’t already delivered the assets to the recipient. You reserve the right to cancel the gift at any time as long as you use a revocable Gift Deed. However, the gift can’t be cancelled once the transfer is complete.

Can a Gift Deed be challenged?

Yes, a Gift Deed, like any binding document, can be challenged. However, it may be less likely for a Gift Deed to be challenged than a Last Will because a Gift Deed doesn't deal with the distribution of your entire estate.

Help avoid a challenge to your Gift Deed by ensuring:

It doesn't conflict with any local laws
You are of sound mind when you create the document
You are giving the gift out of your own free will and not under the influence of anyone else

How do I create a Gift Deed in Australia?

You can easily create a customised Gift Deed by filling out LawDepot's questionnaire. Using our template will ensure you complete the necessary steps:

1. State if your Gift Deed is revocable or irrevocable

Start by deciding which type of Gift Deed you want to create: revocable or irrevocable.

A revocable Gift Deed is one you can cancel in future. Donors will sometimes use this type to state their future intention to give a gift while retaining the right to cancel it. The donor has until the gift is in the recipient's possession to revoke the gift.

An irrevocable Gift Deed can't be cancelled or withdrawn. LawDepot’s irrevocable Gift Deed transfers ownership of assets and real estate to the recipient. However, the recipient doesn’t receive possession of the gift immediately. The gift goes into a trust, and the appointed agent in the Gift Deed ensures it reaches the recipient once the donor passes away.

2. Describe the type of gift you’re giving

If your gift is monetary (a sum of money), state the amount of money you’re giving to the recipient.

If you’re giving a non-monetary gift, describe it in as much detail as possible. For example, if you’re giving the recipient a vehicle, include its year, make, model, condition, interior features, mileage, and vehicle identification number.

Each state and territory in Australia has its own property laws. Review the property laws in your location if you’re transferring land to a recipient:

3. Provide each party’s information

There are three parties in a Gift Deed: donor, recipient, and agent.

The donor is the party giving the gift, and the recipient is the party receiving it. The third party is an agent, who delivers the gift to the recipient based upon the donor's directions in the Gift Deed. It’s also a good idea to name a replacement agent in case the original agent doesn’t want the responsibility or predeceases the donor.

LawDepot’s Gift Deed requires an agent to act as a go-between when transferring possession of the gift from the donor to the recipient.

Provide each party’s full name, city or town, and state or territory. For the recipient, also include if they are an individual or charity.

4. State the signing information

Finish your Gift Deed by stating which city and state or territory you’re signing the document in. LawDepot’s contract also includes space for two witnesses to provide their signatures.

Free Gift Deed

Create Your Free Gift Deed

Gift Deed

Create your Free Gift Deed

Create your Free Gift Deed

Your Gift Deed

What is a Gift Deed?

What types of gifts can I use a Gift Deed for?

Who is eligible to use a Gift Deed?

What information should be in a Gift Deed?

What’s the difference between a Gift Deed and a Last Will and Testament?

Can I cancel a Gift Deed?

Can a Gift Deed be challenged?

How do I create a Gift Deed in Australia?

1. State if your Gift Deed is revocable or irrevocable

2. Describe the type of gift you’re giving

3. Provide each party’s information

4. State the signing information

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