An intrafamily loan is a financial arrangement between family members—one who is lending and another who is borrowing. An intrafamily loan may be used to help a family member who needs money for a number of reasons:
buying a home funding or purchasing shares...Category: Loans
What the Administration’s 2024 Revenue Proposals Mean for You and Your Estate Plan
Introduction
On March 9, 2023, the Biden administration released a proposed budget for fiscal year 2024, calling for an increase in federal spending along with a series of counterbalancing revenue raisers. The budget was outlined in a document called the “General Explanations of the Administration's FY2024 Revenue Proposals,” otherwise...
Why Your Estate Planner Needs to Know If You’ve Lent Money to Family
Many children and grandchildren are skipping the traditional bank and obtaining loans from parents or grandparents. Unfortunately, we have all heard stories of families torn apart because of disagreements over money. So, what can you do to make sure your intra-family loans help — rather than hurt — your family?
As...