Money Moral Dilemma: Should I ask my uncle to pay his debt?

janiebquick

Write it off.

squirrel59

If your dad had specifically left your uncle's debt to you, then you would have had the luxury of making him a gift of it. As it is, it is a debt to the estate and as such the executor will have no option but to include it.

gloriouslyhappy

Elisecas wrote: »

What would make you dad happy?

If it's forgiving the debt, do so with a little joy that you can.

And by all means tell your uncle that you would love to that as one last gift from his brother...

Brother-in-law, not brother. And why did the dad specifically draw up a repayment agreement and tell his children of the loan terms if he just wanted to gift it to his in-law?

Ebenezer_Screwj

Of course you should mention it. How can you borrow money from someone and then not pay it back? Presumably your uncle regards this debt as having died with your father in which case you have little chance of getting anything back from him.

silvercar

Depends on the amounts involved. If your father has left you £56,000 then you can afford to let the uncle off £560. If he has left you £5,600 then you may be less inclined.

crmism

What remains outstanding of the loan your father made to his brother-in-law is a debt on his estate, and the executor (or administrator, if there was no will or executor appointed in it) is under a legal obligation to collect it. The only way by which it could be written off is if the residuary legatee(s) agree that it should be treated as such.

However, the sum at stake is not large, and I think it would be sensible to write a formal letter (keep a copy for yourself) placing him on notice of what you believe is still owing, and asking him to repay. If he thinks that the loan died with your father, he's quite wrong.

You are correct in denying him any of your father's possessions if he's (as I suspect) not mentioned in the will. He is entitled to nothing but, if there's something he wants, he'll have to buy it. Make sure he doesn't have access at any time and, if in doubt, make an inventory of the contents and photograph the more valuable ones. I've dealt with too many estates where family members or friends try to remove items without others' knowledge, and that's theft in my book.:)

Manxman_in_exile

colinlyne wrote: »

The use of the word "estate" simply means the net worth of the person, and in this instance refers to the deceased father. This instance is a typical greed situation where a beneficiary hopes to obtain more money than is available ( the loan still owing), when the son has already been "left" an amount of money or goods. You should write the debt off, as the money does not belong to you! It is unearned income and you should be grateful that you have received anything! This is a typical case of avarice.

The above makes no sense whatsoever!


(EDIT: I'm disappointed at the number of posters on here willing to give away property that doesn't belong to them).

DUFC

I sympathise with the problem as I have had a similarly troubling but different issue whilst acting as an executor. The executor is legally obliged to act in accordance with the terms of the will and, amongst other things, to ensure that all debts due to the estate are collected. His hands are legally tied in this respect, which in my case people did not seem to understand. This debt needs to be disclosed to the executor especially as it was formally recorded and then publicised, potentially in anticipation of these very circumstances. If the brother-in-law is a beneficiary of the estate then the sum could possibly be deducted by the executor from what has been left to him. Otherwise it is a debt to be repaid. Set aside your own views on this and let the executor do his job.

doctorblunkett

colinlyne wrote: »

The use of the word "estate" simply means the net worth of the person, and in this instance refers to the deceased father. This instance is a typical greed situation where a beneficiary hopes to obtain more money than is available ( the loan still owing), when the son has already been "left" an amount of money or goods. You should write the debt off, as the money does not belong to you! It is unearned income and you should be grateful that you have received anything! This is a typical case of avarice.

This is just nonsense.

the debt still stands, and repayment should continue as the original agreement stated.

Malthusian

Guys, this is a Money Moral Derpemma, responding to the wotireckon brigade is a complete waste of time, they won't be back.