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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I wish to make an interest free loan to my son.I am 75 and

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I wish to make an interest free loan to my son.I am 75 and in the event of my death before the loan is repaid at £400 per month presumably it will become a charge on my estate.Can the loan continue to be repaid at agreed rate?
Submitted: 2 years ago.
Category: Law
Expert:  UKSolicitorJA replied 2 years ago.
Hello,
Yes, your son will owe the debt to your estate after you pass on.
You should make this clear to him by signing a loan agreement with him which expressly states that in the event of you passing away before the loan is repaid, he will pay it plus the interest to your estate.
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