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We are borrowing money from my aunt . We have an agreement to pay back the loan in 5 years . The loan will take effect in FL .

Melbourne, FL |

My wife has a future inheritance from her mother in MA. When she dies if the loan is still in effect my aunt wants to be able to attach that inheritance to reduce or pay off the loan. Is this possible?

Attorney Answers 1

Posted

Hi,

I would consult an estates, wills attorney in either FL or MA to cover all your bases, but absent some action like setting up a trust I do not believe this will be possible.

Your wife cannot attach money that she does not have unless her mother permits it. But this would merely be a gurantee then. That is, the loan secured by your mother-in-law assets, which of course is possilbe.

Remember too that things do not always work out like we plan. There is always a chance that this estate has some issues and they may frustrate your objectives.

Best regards,
Frank
Natoli-Lapin, LLC
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