Legal Question in Wills and Trusts in Georgia
personal loan/will
Personal loan was given to Son from Mother, mother dies, living a will, stepdaughter finds cancel checks and now estate want the money back. No loan sign just a verbal agreement for repayment. Legal where do I stand, I thought if a person dies that ends agreement.
2 Answers from Attorneys
Re: personal loan/will
Well this is tough, sort of. Your own testimony answers the real question. You admit that it was a loan: "Personal loan was given to Son from Mother." But, because it is not in writing, you want to avoid repaying it. Death does not extinguish personal loans. In an estate situation, the estate stands in the shoes of the dead and the "legal" aspects of the estate continue on via the personal representatives. However, the only "proof" the stepdaughter has is your own testimony and no written note. So, I suppose, it is really up to you concerning how this one turns out. HCW
Re: personal loan/will
If death cancels loans, there would be lots of hired guns out there. If you owed your mother, you now owe her estate. The personal representitive must bring an action against you to enforce this obligation. Of course, if your mother left a will forgiving the debt, it would not be an issue. Do the right thing.
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