(a) All inter vivos gifts of assets, including but not limited to money, lands, or buildings, are void if the donor is left without means of support and does not reserve for himself for life an adequate amount separate from that gift to provide for his subsistence; provided, that this section shall not apply to any gift not expressly and specifically declared void hereunder by an administrative or judicial tribunal of competent jurisdiction within the two-year period immediately following the date of the gift.

Terms Used In Alabama Code 35-1-2

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Donor: The person who makes a gift.
  • following: means next after. See Alabama Code 1-1-1
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(b) As used in this section, unless the context clearly requires a different meaning, “subsistence” means that amount of money or its equivalent necessary to provide one with the minimum necessities of life, such as food, clothing, shelter, and medical care.
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