TwistedSifter

He Loaned His Father’s Business Money With Very Low Interest, But Now That His Stepbrothers Inherited The Business, He Sold Off The Debt, Leaving Them With A Less Favorable Loan

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It can be difficult to mix business and family, but in some cases, it can work out really well.

What would you do if you gave your father’s business some very favorable loans, but after he passed, you didn’t maintain the great terms since your step-brothers inherited the company?

That is what happened to the son in this story, and now his step-brothers are angry that he left them with a less-than-ideal loan on their business.

AITA for emptying out my dad’s estate basically making his will useless.

I, 48M, have helped my father keep his business afloat for years. I didn’t mind.

It is always nice to help a parent when you can.

His support when I was young is the only reason I am where I am in life financially. I was able to graduate debt free and start my own business straight out of university.

My stepmother on the other hand was never my biggest fan.

Why should he be expected to do things for her?

She thought I should have done more for her and her sons.

I was already out of the house when my father married her so I never felt like I owed her anything. Much less her useless kids.

Some people just don’t have a good work ethic.

Both of my stepbrothers ended up working for my dad’s company. But they are useless.

They spent most of their time “servicing” clients. Taking clients to lunch and golfing with them. Stuff like that.

This can be very helpful to a business.

My dad needed help a few times and rather than let him go under or go to the bank I gave him loans at a very low interest rate.

That way if he couldn’t pay me back I could write them off as bad debt and get a tax deduction.

They are adults and need to be treated as such.

I know now that he never mentioned the loans to her or her kids. And when I say kids these are men in their thirties.

My dad got sick two years ago and my stepbrothers actually had to work. The company was pretty solid now and they couldn’t screw it up too badly.

He is still calling the shots.

My dad and his accountant were still in day to day control. He just couldn’t go into the office.

Six months ago my father rewrote his will. He left everything to my stepmother and stepbrothers. I was left token sentimental gifts. I don’t need the money but I could smell the bull crap.

He is doing nothing illegal and just protecting himself.

So, I sold my loans to a business competitor of my father. With the provision that I would personally make the payments until my dad passed away.

So, basically they get the company when my dad died. I got my money back so I was happy.

It is all going to come to a head now.

When my dad passed I got my stuff from his estate. Just photo albums and other things of that nature. My stepmother got the house and a retirement fund. And the three of them got the company.

They came to me about the loans after they figured out how much my dad owed me. They wanted to keep the same deal.

They are not going to be happy about this.

Basically one percent interest and really lax views on collecting payments.

I told them that I had already divested myself of any involvement with my dad’s company and that they had to deal with a different creditor who would probably want to collect in full or renegotiate.

I can certainly see why they think this.

They think I’m in the wrong for saddling them with debt instead of the solvent cash cow they thought they were getting.

It’s still a viable company and they can go to a bank themselves and get a loan to pay it off.

Ok, so it isn’t like he bankrupted them.

Then they have a company that has debt payments to make. Lots of good companies like that.

Also I think I exaggerated in the title. I didn’t empty out the estate.

So, he really didn’t actively harm her (or the step-brothers).

My stepmother has enough money to last her until she dies unless she spends it foolishly on herself and her son’s.

And my stepbrothers both have shared in a good company that has an excellent accountant.

This changes things. I don’t think he was wrong for protecting his own investments.

If they actually decide to work it will support them and their families forever.

AITA?

No, I was going to say yes until those last few lines. He didn’t ruin anyone; he just made sure he was protected.

Let’s see what the people in the comments think about this.

He is not the bad guy at all.

Yup, they are very disappointed.

It is time for them to grow up.

This person loves the pettiness.

Yeah, she didn’t do anything wrong.

He was just managing his money wisely.

If you thought that was an interesting story, check this one out about a man who created a points system for his inheritance, and a family friend ends up getting almost all of it.

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