3) Irrevocable Assignment Example

Official source

The customer irrevocably assigns a $10,000 Certificate of Deposit to his grandchildren. Since the assignment is irrevocable and the CD is no longer available to the customer, the $10,000 assignment is not considered constructively received, but is evaluated as a transfer.

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3) Irrevocable Assignment Example

Official source

The customer irrevocably assigns a $10,000 Certificate of Deposit to his grandchildren. Since the assignment is irrevocable and the CD is no longer available to the customer, the $10,000 assignment is not considered constructively received, but is evaluated as a transfer.