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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 33713
Experience:  15 yrs estate law, real estate. Wills/Trusts/Probate
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I am the trustee [and a beneficiary w/3 siblings] on my

Customer Question

I am the trustee [and a beneficiary w/3 siblings] on my mom's revocable trust - she passed a few weeks ago and now two of the beneficiaries are harrassing me about an unpaid loan from my parents 10 years ago. My mom forgave the loan about 5 years ago. What can I do to stop this? I don't have proof of this except around the same time she put me as sole beneficiary on an annuity. What can I do?
JA: Because laws vary from place to place, can you tell me what state this is in?
Customer: California
JA: Have you talked to a lawyer yet?
Customer: No.
JA: Anything else you think the lawyer should know?
Customer: No, the trust is pretty straight forward. 1 trustee and 4 beneficiaries. 1 house now for sale and some personal property we are dividing up.
Submitted: 3 months ago.
Category: Estate Law
Expert:  Barrister replied 3 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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Was there anything in writing about the loan?

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When was it supposed to be repaid?

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How much was the loan?

.

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thanks

Barrister

Customer: replied 3 months ago.
No, nothing in writing w/regards ***** ***** back or a schedule of payments. I have copies of two checks, 1 for $10,000 and 1 for $5,000. After my dad died, my mom forgave the loans. It was at the same time she put me as sole beneficiary on an annuity policy. She would not have done that if I owed her any money. I have nothing in writing from her forgiving the loan. Never thought I'd need it.
Expert:  Barrister replied 3 months ago.

Ok, the problem here is that if there was no set repayment date, then this is a "demand loan" which means that payment can be demanded at any time. So the date of mother's passing would be the date the it would come due under normal circumstances.

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With that said, since you don't have anything to prove that the loans were forgiven, your siblings could push the issue in court and have a judge decide if you had to repay the estate or not. With you claiming that mother forgave the debts, and them obviously claiming that she didn't , it is a coin flip as to how the judge would rule.

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But it will be up to them to push the issue if they wanted to do so with them having to file a formal motion to have the issue heard by the judge who then makes a decision. So if they are just sniping at you about it, you can just maintain your position that she forgave the debts and then the ball is in their court as to whether they want to push it further.

thanks

Barrister

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