Heirs and loans
If a couple in their 80s have large ROTH accounts and live off of SS income, can their children (the beneficiaries of the ROTHs) give them an unsecured loan to help with living expenses without affecting the status or taxability of the ROTHs?
Permalink Submitted by Alan - IRA critic on Tue, 2013-09-10 16:13
Yes. As long as the Roth accounts are not used as security for a loan, the loan has no effect on the Roth IRAs.