Take advantage of

PUT IT IN WRITING

by William R. Mumbauer - Attorney - www.flwillstrustsprobate.com A reader asks: My son wants to buy a house but he doesn’t have enough money for the down payment. If I loan my son the money, but I die before it’s all paid back, does he still have to pay the balance to my estate?

Response: In a word, yes. However, to avoid potential confusion and arguments among the other beneficiaries of your estate, I highly recommend that you insist that your son sign a Promissory Note. Also, it is incumbent upon you to scrupulously keep a written record of payments received so that the Personal Representative for your estate will know exactly how much your son still owes. Be aware that the IRS has long set minimum interest rates for loans between family members as a way of preventing people from disguising gifts to heirs as loans that charge little or no interest. Depending on the length of the loan, the imputed interest rate is typically between 2.25% and 3.25%. As the rates are subject to change you should check with the IRS or a CPA to determine the minimum interest rate which you must charge your son.

Mr. Mumbauer, a 5th generation Floridian, has maintained a law practice in Brandon, Florida since 1980 with emphasis on estate planning. Mr. Mumbauer takes special pride in representing the senior community by maintaining a sensitive and practical approach to problem solving. Mr. Mumbauer is a member of the National Academy of Elder Law Attorneys and the Elder Law Section of the Florida Bar. Mr. Mumbauer is also a Mentor in probate law and has been qualified by the Second District Court of Appeal in Florida as an expert witness in matters involving the drafting of Wills. Mr. Mumbauer’s Martindale-Hubbell Peer Review Rating among judges and lawyers for Legal Ability is High to Very High and his General Recommendation Rating is Very High. His articles are based on general principles of law and are not intended to apply to individual circumstances.

Apple Grilled Cheese

If you’re looking for a way to celebrate fall flavors without adding pumpkin puree to everything, you may want to turn to the humble apple. Versatile, delicious and crisp, apples are a great fruit to add to any meal. Chop and add as a salad topper, have an apple as a snack or for your breakfast, or, yes, even add it to your grilled cheese. Did you know that apple pie was originally meant to be served with a slice of melted cheddar on top? Right, I didn’t either. However, there’s an old saying that goes, “A slice of apple pie without the cheese is like a kiss without the squeeze.” Clearly, cheese and apples were meant to be together. And we can kind of see that in the way that charcuterie boards are constructed. Typically, these boards feature a variety of cheeses (soft, firm, sharp, mild, etc.) and fruits, including fresh grapes, dried cranberries and apples. Together, these two foods make for the perfect, satisfying bite. So why not as a warm and melty sandwich?

Ingredients:

• Your favorite type of apple, sliced thin • Two slices of sharp cheddar cheese • Two slices of your favorite bread (sourdough would work great here) • Butter 1. Heat a pan to medium-low heat and butter one side of a bread slice. Once the pan is hot, lay the slice butter side down and layer one cheese slice with the apple slices. Top the apple with your second cheese slice and cover to let steam for 2-3 minutes. 2. Once the bread is toasted, put the other butter slice on top.

Flip and cook for another 2-3 minutes.

3. Let rest on a plate for 1-2 minutes before slicing. Enjoy!