Family Loans Come With A PriceWhen a child borrows money from a parent, especially a large amount, it is not uncommon for the other siblings to be jealous or at least curious about the family loan. However, if the loan goes unpaid before the death of the parent, this can certainly change the how the siblings feel about the money.
When a child borrows money from a parent, especially a large amount, it is not uncommon for the other siblings to be jealous or at least curious about the family loan. However, if the loan goes unpaid before the death of the parent, this can certainly change the how the siblings feel about the money.
All too often when a parent dies who has minor children, the custodial parent loses out on child support. This is unfortunate but it can be handled in the probate proceeding. However, time is of the essence. The parent who takes care of the child or children should be vigilant to be sure that child support is paid even though the obligated parent is deceased.
The Personal Representative (also known as the Executor) is responsible for many of the activities in the Minnesota probate process, including collecting the assets, organizing the estate, distributing assets, and communicating with the probate court. While the family and friends are dealing with the loss of a loved one, this person is managing the decedent's estate. What happens, then, when the Personal Representative dies? (
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