Let’s say you’ve known for years that you are inheriting your father’s home when he dies.
Hopefully, you also know that he has a will that indicates clearly that the house will go to you.
Parents and grandparents often give children and grandchildren financial help to purchase a home or to carry them through hard times. It can be a wonderful, generous gesture with a lasting impact across generations of family members. But it can also create strife and intra-family conflict if parents fail to properly document the transfer as a loan.