Why Proper Documentation of Family Loans is Crucial in Trust Administration

Most parents think a signed promissory note is the finish line. It's not. In this clip, Kirsten explains the second pitfall her firm sees in trust administration: a properly documented loan from years ago, with no record of what's been repaid. Without a simple payment log — a spreadsheet on the lender's side, canceled checks or equivalent on the borrower's side — the trustee handling the estate may have no choice but to treat the loan as unpaid and adjust the inheritance accordingly. Kirsten's bottom line: when family money is moving, treat it like business and document it like a business would.

[Ad] Need help navigating these upcoming changes? We're here to assist. Schedule a free discovery call now, and let's discuss your estate planning goals.
#AbsoluteTrustCounsel #AbsoluteTrustTalk #Podcast #KirstenHowe #WalnutCreek #WalnutCreekAttorney #AbsoluteTrust #EstatePlanMisses #FamilyLoans #PromissoryNote #LoanRepayment #TrustAdministration #DocumentItInWriting #EstatePlanningMistakes #FamilyMoney #InheritanceDispute #GiftOrLoan #CaliforniaEstatePlanning #ElderLaw #AssetProtection