Regardless of the type of gift chosen, parents need to carefully consider the potential tax and family law implications that are associated with making a gift. A gift letter must contain the donor's name, the gift's value, confirmation that the gift is not to be repaid, and the donor's signature.Information for individuals about making a gift in the year, and about gifts made in the previous year. The purpose of the gift letter template is to clearly identify that the money for the down payment is a gift and that the donor does not need to be repaid. A gift letter is an important, formal, legal piece of documentation that can help explain that a (usually rather large) sum of money was gifted to you. The letter must explain who is gifting the money, where the donor's funds are coming from and the relationship between the donor and the recipient. Up truck registered as a Passenger Vehicle cannot display any business advertisements and must be used exclusively for noncommercial purposes. The IRS will never call, text, or email you for payments, and they do not take gift cards. Founded in 1991, the Institute for Justice (IJ) is a nonprofit, public interest law firm.