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Reply to "First world problem alert, advice on large loan from family "
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[quote=Anonymous][quote=Anonymous]The interest rate of the loan can't be lower than what a 10 year Treasury bond is paying at the time. Otherwise it's taxable as a gift.[/quote] https://www.nationalfamilymortgage.com/afr-rates/ This link may help, OP Also, how large, roughly, is this future estate, OP? https://www.morganlewis.com/pubs/2022/10/irs-announces-increased-gift-and-estate-tax-exemption-amounts-for-2023 Right now the estate and gift tax exemption is ~$12.9 million per person but this is temporary and right now is set to drop to ~$5.5 million in 2026. It sounds like you're all comfortable playing fast and loose and honor system but depending on the estate size it probably makes sense to look into this ASAP. If the estate is >$12 million (as a couple) then you could look into trusts that would allow you to lock in the current, higher, estate tax exemption. I[/quote]
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