Legal Question in Wills and Trusts in California
If an inheritance advancement is made as a loan, is the advancement the principal or the Fair Market Value of the loan?
Asked on 1/27/22, 9:15 am
1 Answer from Attorneys
Timothy McCormick Schneider, Holtz & Hutchison
Your question needs more context and detail. There are different kinds of advancements with different parties involved. Is the testator making the advancement or are you talking about one of the commercial entities that will make loans to be repaid out of an inheritance, or some other arrangement? And loans are not generally referred to as having "fair market value." So you need to repost your question with a lot more specifics.
Answered on 1/28/22, 10:08 am
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