Focus On
NEW In-House Counsel | Insurance | Intellectual Property | Immigration | Natural Resources | Real Estate | Tax

How the courts do the math on family loans

Friday, April 21, 2017 @ 10:54 AM | By Lisa Gelman and Margie Primero

Question:

My wife and I have decided to separate. My brother  loaned us $50,000 during our marriage to pay off various debts and to purchase a car. My wife now denies that the money was a loan; she claims it was a gift from my brother.

When we borrowed the money, we signed a hand-written document that my brother drew up that says we borrowed $50,000 from him and that we promise to pay him back when we are able. After he found out that my...