Legal Question in Wills and Trusts in Iowa
Demand notes and death
My mother recently passed away. My brother and I are co-trustees of her trust. I borrowed money from her a few years ago in which she created a demand note. It is not mentioned in the trust to be repaid. Does this note 'die' w/ her or does it need to be repaid if my brother demands it?
Asked on 4/15/04, 5:10 pm
1 Answer from Attorneys
Michael McClellan
Gast & McClellan
Re: Demand notes and death
the note doesn't die . . . if not part of the trust, then, presumably, it is an asset of her probate estate . . . her personal representative/executor could demand that it be repaid if all other apects of the note make it still enforceable . . . but someone somewhere has rights in the note . . .
Answered on 4/15/04, 6:08 pm
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.
