Legal Question in Wills and Trusts in Florida
How to release a debt on my death
I loaned my son the money to buy his house and he is making mortgage payments to me. In the event of my death I would want this debt released so he does not owe the estate. How do I do this?
Asked on 6/21/03, 2:57 pm
1 Answer from Attorneys
Re: How to release a debt on my death
You can simply execute a codicil, if you already have a will, or include a provision in a future will releasing the debt upon your death. Or, you can devise the note to your son instead of forgiving the debt. Be careful, each one may lead to different tax consequences to the debtor, your son.
Answered on 6/22/03, 6:31 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
