What is the name of your state? California
My sister and I are Co-Executors of our parents estate. She is the only one that didn't have a loan from our parents. Nothing was signed with the parents and they always said they helped their children by giving them interest-free loans. Although difficult to ascertain exact dollar amounts of three of the beneficiaries loans to our parents, because of my elderly father's record keeping, (a lot in his mind), we finally did so, and agreed to a final dollar figure owed by each one. The only sibling (all are natural), that did not have a loan was the sister who is my Co-Executor. There are four of us.
I made a request of our attorney to breakdown my loan to show that I had agreed to pay my former husbands loan, who is now deceased. I also agreed to take on the loan to my son. So, I wanted it to read A=$5000, B=$3000 and C=$1000 for a total of $9000.00 that I agreed to pay. Co-Executor now is on a rampage that she will not allow that and has brought in the other siblings to help her fight me. Is there an advantage or not to me listing it this way. Or, worse, what could she have on her mind for later down the road? I was hoping that I could write off part of the ex-husbands as an uncollecitible loan against my inheritance. The estate is below 1.5M Can she come back and sue me for the interest that wasn't collected on those loans? I have been advised to deny that loan and not pay it as nothing was in writing other than a journal entry in my fathers journals listing the amount and the ex's name. Even the estate attorney told her it made no difference. Will it make a difference to the Probate Judge? Please help.
My sister and I are Co-Executors of our parents estate. She is the only one that didn't have a loan from our parents. Nothing was signed with the parents and they always said they helped their children by giving them interest-free loans. Although difficult to ascertain exact dollar amounts of three of the beneficiaries loans to our parents, because of my elderly father's record keeping, (a lot in his mind), we finally did so, and agreed to a final dollar figure owed by each one. The only sibling (all are natural), that did not have a loan was the sister who is my Co-Executor. There are four of us.
I made a request of our attorney to breakdown my loan to show that I had agreed to pay my former husbands loan, who is now deceased. I also agreed to take on the loan to my son. So, I wanted it to read A=$5000, B=$3000 and C=$1000 for a total of $9000.00 that I agreed to pay. Co-Executor now is on a rampage that she will not allow that and has brought in the other siblings to help her fight me. Is there an advantage or not to me listing it this way. Or, worse, what could she have on her mind for later down the road? I was hoping that I could write off part of the ex-husbands as an uncollecitible loan against my inheritance. The estate is below 1.5M Can she come back and sue me for the interest that wasn't collected on those loans? I have been advised to deny that loan and not pay it as nothing was in writing other than a journal entry in my fathers journals listing the amount and the ex's name. Even the estate attorney told her it made no difference. Will it make a difference to the Probate Judge? Please help.
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