The Bank of Mom & Dad: Gift, Loan or Divorce Disaster?

The “Bank of Mom and Dad” has helped countless young couples get into the housing market.But when that couple separates, a question that once seemed simple can become a major legal and financial fight:Was the money a gift or was it a loan?On Wednesday, September 2 at 6:00 p.m., we’re joined on Divorce Explained by Marc Weisman, Chair, Tax Counsel at Keslassy Freedman Gelfand LLP, for a conversation about family loans, what parents and grandparents should consider before advancing money, and what can happen to those funds when a relationship ends.We’ll also discuss the recent decision in Massaar v. Moneck and what it means for families helping their adult children financially.If you’re a family law professional, a parent thinking about helping a child buy a home, or someone whose family has already contributed to a home purchase, you’ll want to hear this conversation.