Legal Question in Wills and Trusts in California
Promissory Note/Placing Lien on an Estate
In 1991, I gave my parents #10,000, I also extended a loan to them. Terms were that the money be paid after their death to come out of their estate. I asked for something in writing as proof of the loan. Parents wrote a promissory note stating the $10,000 be paid at 10% per annum due either at close of escrow or to be added to my share of inheritance. Mother died in 2000, father died recently. I just received a First Amendment to the Trust my father had drawn in 2002 stating 75% to my brother 25% to me (estate value about 1 mil), and my promissory note to be deducted from my share of estate. My brother and I are not on good terms as it is. I did not place a lien on the parents property out of respect and now am wondering how to protect my promissory note. Also, if original note says ''added to share of inheritance'' can it be changed 11 years later to ''deducted from?''
1 Answer from Attorneys
Re: Promissory Note/Placing Lien on an Estate
since it wasn't stated how much you would inherit from them, they can do what they did. if they said you would get a certain percentage as part of the deal, then you have remedies. otherwise, they can give you whatever they wish.
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