If you die and still own 1/2 of the home, it will be taxable in your estate for NJ death tax purposes...unless your brother can prove that he paid 100% for the house. One option would be for you to gift your 1/2 interest in the home to your brother during your lifetime rather than via your Will at death. NJ does not have a gift tax.
If you die and still own 1/2 of the home, it will be taxable in your estate for NJ death tax purposes...unless your brother can prove that he paid 100% for the house. One option would be for you to gift your 1/2 interest in the home to your brother during your lifetime rather than via your Will at death. NJ does not have a gift tax.
