[masraum]

Originally Posted by Bugsinrugs

My son is going to ask his accountant how to procede. Should have done that in the first place..

Good call. I think Paz has the best answer. Creating a loan, (whether you give it to the oldest directly, or you give it to the younger and make sure he pays off the older with it, and then not requiring payment is potentially a ticking bomb. If the govt were to find the "loan" somehow, and then discovered that you essentially "wrote off" the loan, then the recipient could have the loan amount taxed as income. None of you want that surprise. It's probably very unlikely that anyone would discover it, but would SUCK if they did.