Can anyone help with this?
Seems that there is pretty standard practice in Belgium to include a return clause when making an estate cash gift.
The return clause is for the rare case when the donee dies before the donor and does not have any descendents so that the gift money can be recovered without paying estate taxes.
I am trying to figure out if I can even use such a cash gift for I would not want my grieving wife to have to deal with being collected upon in the case of my death.
a) Is such a gift contract with a return clause legal and enforceable in the US?
b) If the cash gift was spent (like used for a vacation instead of buying stock), does it still need to be restituted?
c) If the cash generated interest or gains, do those gains need to also be restituted with the original cash gift amount.