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Hi there,

With CRA's prescribed loan interest rate at 1%, this may be the best time to consider lending money to a spouse for investment purposes.

Would anyone that has implemented a "loan for value" strategy to income-split with their spouse be willing to post a sample of the demand loan they drew up?

Thanks!
 

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http://www.medlawplus.com/legalforms/instruct/sample-loanagree.pdf

-or-

DEMAND NOTE​


Date: ________

On demand, the undersigned, for value received, jointly and severally promises to pay to the order of _____________________________ [insert name of lender] the sum of _____________________________________________ dollars ($________.00) together with interest thereon from the date hereof until paid at the rate of _______% per annum.

In the event this note is not paid when due, the undersigned shall pay all attorney’s fees and reasonable costs of collection.

NOTICE TO BORROWER: THIS IS A DEMAND NOTE AND SO MAY BE COLLECTED BY THE LENDER AT ANY TIME. A NEW NOTE MUTUALLY AGREED UPON AND SUBSEQUENTLY ISSUED MAY CARRY A HIGHER OR LOWER RATE OF INTEREST.


______________________________________
[Maker’s signature]

______________________________________
[Maker’s typed or printed name]


NOTICE TO CO-SIGNER: YOUR SIGNATURE ON THIS NOTE MEANS THAT YOU ARE EQUALLY LIABLE FOR REPAYMENT OF THIS LOAN. IF THE BORROWER DOES NOT PAY, THE LENDER HAS A LEGAL RIGHT TO COLLECT FROM YOU.


______________________________________
[Co-signer’s signature]

______________________________________
[Co-signer’s typed or printed name]



Witnessed:


______________________________________
[Witness’s signature]

______________________________________
[Witness’s typed or printed name]
 

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I would like to borrow money from my wife's non registered retirement nest egg and then pay her back. That way when she retires this re-paid amount will be attributed to her. I have revived this old post in an attempt to get the latest advice from anyone who has taken this journey.
 
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This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
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