Banking
Feb. 11, 2015
Be wary when you're transacting with trusts in California
Lenders and their lawyers must be wary of how to structure and document loans to revocable and irrevocable trusts properly. By Richard W. Brunette and Nancy B. Reimann
California lenders routinely make large business loans and consumer loans to both revocable and irrevocable trusts. Because a trust is a separate legal entity with special rules governing its ability to incur debt and encumber assets, lenders and their lawyers must be wary of how to structure and document these loans properly. Adequate documentation of loans to trusts require the application of California trust law as a...
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