Was it a loan or a gift?
The recent New Jersey case of Estate of Bertha Polak is another good illustration of differing viewpoints among family members about the terms of intrafamily loans and whether there is an obligation to repay. This case arose during the estate administration process. This is an unpublished decision of the Appellate Division, meaning it isn’t precedential, but it gives the reader a good...
Get ready for a wild ride when filing a NJ Medicaid application
Growing old doesn’t mean that people stop taking care of their family members and think only about themselves. Families expand. Children may enter second marriages. The grandchildren get married. A child may run into financial trouble, lose their job or become medically disabled. Loving families support each other and that often means that people will share their home with the next...