Chapter 9 - THE MONEY GRANDPA GAVE JULIANGrandfather liked Julian at first.
More than he liked most people.
Julian was ambitious.
Thomas Hayes respected ambition almost as much as tax planning.
When Julian launched Mercer Hospitality Design, the Hayes Family Opportunity Fund loaned his company $425,000.
Low interest.
Seven-year term.
Secured by business assets and Julian’s personal guarantee.
The loan was not a wedding gift.
Julian had repaid some.
Balance when he changed the lake-house locks:
$287,400.
Years later, the same fund guaranteed part of a separate commercial credit line for Julian’s firm.
Maximum trust exposure:
$400,000.
Grandfather had helped him.
Section Fourteen said any spouse who knowingly asserted an unauthorized adverse claim against a Protected Residence became ineligible for further discretionary benefits.
More important:
Certain related-party loans became subject to accelerated review.
Not automatic seizure.
Not:
you filed a notice, now give us your house.
The trustee had to determine whether a Triggering Event occurred.
Then contractual remedies could follow.
May you like
Julian went pale in my hospital room because he knew the Opportunity Fund still had financial ties to his company.
Victoria went pale because she had just poured her condo proceeds into that same company.
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