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    cjpsych's Avatar
    cjpsych Posts: 2, Reputation: 1
    New Member
     
    #1

    Aug 10, 2010, 09:54 AM
    Executor
    I am from a family of five. My sister and one brother are co-executors. My parents of 83 years old have finally completed their will and trust. My other two brothers have recently persuaded my parents to take a loan on one of their rental properties (but it will be in my parents name only). At the time of their departure how can we proof this was a lona to my brothers?
    Thank you for any help
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Aug 10, 2010, 09:59 AM

    Have the brothers sign a document attesting that this loan was for their use and any balance at the time of your parents death would be deducted from the brother's inheritance.
    cjpsych's Avatar
    cjpsych Posts: 2, Reputation: 1
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    #3

    Aug 10, 2010, 10:45 AM
    No, of course they don't want to. But, my mother has a signed, notarized letter to the executor stating that the loan was for my brother's personal use- will that be good enough?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #4

    Aug 10, 2010, 10:50 AM

    Who signed the notarized letter? Your mother? If so it's her word about what happened.

    She needs a signed agreement with your brother, also notarized, to make this a debt payable to the Estate.

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