Скачать или смотреть How to Loan Money To a Friend or Family Member and Protect Yourself

If you're thinking about loaning money to a friend or family member, there are many things to keep in mind. Or, if you're thinking of getting a personal loan from a friend or family member, you want to make sure you're doing it effectively. You can protect yourself and your friendship or relationship while helping each other out and saving money.

Bridget Sullivan Mermel CFP(R) CPA and John Scherer CFP(R) talk through their (at least 4) tips for how to loan money to friends and family and bring more meaning to your relationships.

Here are specific places to find different topics:
00:00 Start!
00:50 First tip
01:40 John’s second tip
02:05 Bridget’s first tip
03:05 suggestions for what agreement includes
04:48How to deduct a bad loan on your taxes
06:34 Reporting interest
06:49 Four things to make sure you do
07:40 last tip

#personal loan

In general, make sure that you document what you're doing. Mentally, think of it as a gift, not a loan. Create a document that includes the AFR interest rate. Document your repayments. Report interest. If the person doesn't pay you back, ask them about it and document it.

These are all ways to help your family relationships, your friendships, and to protect yourself. You don't have to be mean! You don't need to harass the person. But if you don't get paid back, don't loan them more money.

Here's Bridget's firm website: www.sullivanmermel.com
John's firm website: www.trinfin.com

For advisors around the US:
www.acplanners.org

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View the video transcript with the following link:
https://www.sullivanmermel.com/post/h...