236 The Farmer's Business Handbook 



clerk, as it may become an important link in a 

 chain of title. 



m. ADVANCING MONEY OB PROPERTY TO ONE'S 

 CHILDREN 



It not infrequently happens that parents desire 

 to assist their children when they leave home 

 and begin business on their own account. When 

 the parents have a competency, no wiser dispo- 

 sition can be made of a portion of the estate 

 than to loan it to their natural heirs, provided, 

 however, that not enough is so loaned as to 

 seriously endanger the income necessary for the 

 support of the parents. An agreement somewhat 

 as follows should be entered into, that justice 

 may be done to all the children: 



WHEREAS my father (or, mother or, parents) is (or, are) 

 about to loan to me five hundred dollars (or if property 

 describe it and state the value agreed upon ) , therefore I 

 promise to pay five per cent interest annually on said 

 amount if demanded by my father (or, party loaning the 

 money) ; and I accept the same as an advancement from 

 his estate, and release said estate from that amount. 

 Otherwise, this loan is to be without interest until such 

 demand is made: but in no case shall such demand for 

 the payment of interest be retroactive, but interest shall 

 be payable only from the time of a demand for the same. 



(Signature of child.) 



