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death of debtor

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A

avgjoecool

Guest
What is the name of your state? Texas
I have a relative that made a loan of about $50k to his son which his two other children had knowledge of but may have no paper contract of proof. The son, Larry, died leaving a very large life insurance payment to his wife. She is well able to repay the father but may never acknowledge the debt. Larry's brother, James is witness to her affair before Larry's death. Is there any way to recover this verbal contract that Larry had with his father? Larry has two childen.
 


I AM ALWAYS LIABLE

Senior Member
avgjoecool said:
What is the name of your state? Texas
I have a relative that made a loan of about $50k to his son which his two other children had knowledge of but may have no paper contract of proof. The son, Larry, died leaving a very large life insurance payment to his wife. She is well able to repay the father but may never acknowledge the debt. Larry's brother, James is witness to her affair before Larry's death. Is there any way to recover this verbal contract that Larry had with his father? Larry has two childen.

My response:

Unless there is written evidence of the loan, and that it WAS a loan as opposed to a "gift", then more than likely, it won't be recoverable from the Estate, or from Larry's wife.

IAAL
 

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