Legal Question in Credit and Debt Law in New York

A year ago my wife and I gave our son a relatively large sum of money as a gift. Now, a year later, I suddenly ended up unemployed, with no insurance, in the hospital. Now I have some very large medical bills. Our son still has the money. Is the money we gave him safe if we can't pay the medical bills?


Asked on 3/20/13, 8:03 am

1 Answer from Attorneys
Kevin Connolly Kevin J. Connolly

If it was an absolute gift and it is held in an account in his name alone, it should be safe. Mind you, the medical vultures will stop at nothing. But as long as you were not rendered insolvent by the gift, it is not open to attack by your creditors.

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Answered on 3/21/13, 9:02 am


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