Imagine the following scenario: You and Bob are friends. Bob asks for your help by asking for a loan of $20,000 so he can renovate his home. Bob promises that once he sells his home, he will repay you this loan and you agree. Unfortunately Bob passes away suddenly, and you find out one of the following: 1) Bob didn’t have a chance to write a will or 2) Bob left out in his will that part about repaying your loan. Now you are worried that the money you loaned Bob is gone. What do you do?
Unfortunately, scenarios as above happen. Luckily there are legal routes you can pursue to recover (get back) your contributions.
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