Westchester elder law attorney Anthony J. Enea of Enea, Scanlan & Sirignano, LLP in White Plains, N.Y. recently addressed estate and elder law issues affecting property owners at the New York State Bar Association's (NYSBA) 2016 Senior Lawyers Section Annual Meeting. With millions of baby boomers coming of age, Mr. Enea urges seniors to take a proactive role in planning for the future.
At one time or another, the request to borrow money has been made to many parents and grandparents by their adult children, grandchildren and other loved ones. However, in most instances parents and grandparents give to their families without properly documenting the transaction and its terms. Unfortunately, the lack of proper documentation may create unintended consequences and complexities, especially if long term care services and Medicaid are later needed.