There is no contract—it's a gift.[1]
That probably also means it's not income and will be tax-free.[2]
[1] https://en.wikipedia.org/wiki/Gift_(law)
[2] https://en.wikipedia.org/wiki/Gift_tax_in_the_United_States
That probably also means it's not income and will be tax-free.[2]
[1] https://en.wikipedia.org/wiki/Gift_(law)
[2] https://en.wikipedia.org/wiki/Gift_tax_in_the_United_States