LawDepot in the Wall Street Journal
The Wall Street Journal ran an article about borrowing money from your parents on the weekend, and gave LawDepot a mention.
The article highlights the importance of putting any financial agreement in writing—even if it’s an agreement between family members:
Plan to put your agreement with your parents in writing. “Treat any loan like a business agreement: Draw up a contract and make regular payments,” Mr. Rubin says.
For smaller loans, you should at least document key terms including the purpose of the loan, the amount of interest and a detailed repayment schedule. For helpful templates, visit…LawDepot.com and type “promissory note” into the [site’s] search engine.
If you’re in need of a promissory note, visit our Sales, Loans & Transactions Document Center.