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Hooper Law Office,LLC Estate Planning Blog

Tuesday, March 19, 2013

Dad loaned my brother $50,000. After Dad’s death how to we even things up?

This is a difficult area because, unless the loan is documented. There can be a difference of opinion as to whether it was meant to be a loan or a gift. If your brother either signed a note for the loan, or does not dispute that it was meant to be a loan, then the remaining value of the loan is added back into the estate to be included in the total value.

The real problem occurs if there is no note and your brother insists that your Father mean the $50,000 to be a gift. In this case you will need to look for other evidence of your Dad’s intent. Without evidence you have to decide whether this is something worth fighting over. Whatever your Father’s intent, a divided family was certainly not part of it. 


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