Transfers made in contemplation of death, N.J.A.C. 18:26-5.7

Summary

(a) Any transfer by deed, grant, bargain, sale, or gift made without adequate valuable consideration within three years ending with the date of death of the grantor, seller, or donor, in the absence of proof to the contrary, is deemed to have been made in contemplation of death. Any transfer made prior to such three-year period is not deemed to be in contemplation of death.

(b) "Contemplation of death" includes that expectancy of death that actuates the mind of a person of the execution of the will and is, therefore, not restricted to the expectancy of death that actuates the mind of a person making a gift causa mortis.

(c) "Adequate valuable consideration" means the clear market value of property in money or money's worth on the date of transfer.