Legal Question in Wills and Trusts in Kentucky

settling estate with personal loan outstanding

Personal loan from Father to son, amt 80,000, note signed agreeing to pay interest, before note is paid father passes on, son now refusing to pay interest on note. Tax return for fathers estate claimed interest income and paid taxes on such. there are other heirs to this estate. Son is refusing to pay interest even though there was a signed and notorized agreement,can the son get by with this in a court of law. The son is not the executor of estate. This may not mean anything but he did not speak to father for 6 months prior to death and only came to hospital 1 time in 28 days to visit before death, Can he get by with this, really important Thanks


Asked on 10/12/00, 7:01 am

1 Answer from Attorneys
John Phillips Phillips Law Firm, Inc.

Re: settling estate with personal loan outstanding

Generally, this can be handled through distribution of your father's estate. Your brother would get $80,000 less than the rest of you to pay off the loan. Interest should be handled the same way. Just make sure that the executor is aware of your concerns.

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Answered on 11/05/00, 11:23 pm


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