Family Feud

Mom entered into a private annuity with her son. She gave him $1,000,000 and he agreed to pay her $159,081 per year for the rest of her life. Plaintiff, defendant’s sister, worried that he would receive an excessive sum if Mom died unexpectedly, which she did less than 4 months later. Meanwhile, the son had made written representations that he would transfer a portion to them, if Mom died, consistent with her Will. But after Mom died, he reneged and claimed that his agreement was unenforceable. On appeal, the Court affirms the jury finding of a binding agreement and rejects the son's contention that the agreement was void. Conley v. Binder, New Jersey App. Div., April 15, 2005