DEAR ABBY: About your suggestion to parents to get an IOU for the money they lend to their adult children: I will make a deal with you -- if you will promise not to try to practice law, I will promise not to write any "advice to the lovelorn" columns.
An IOU has no legal value whatsoever! Think about it. All it states is that one party owes another party money, and it does not involve any promise to pay it back by a certain date, etc.
There is nothing sadder than having a couple of old, retired people come into my office with a handwritten IOU on a piece of paper. The last couple had given their son $30,000 and wanted me to collect it for them.
Abby, first, parents should NOT lend their children money unless they can afford to lose it. Second, they should at least have a promissory note secured by a mortgage, etc. And you should stress that this can be wiped out by bankruptcy!
Please correct your column at once before more people fall prey to their children's greed.
Do we have a deal? -- MAX D. RYNEARSON, ATTORNEY AT LAW, INDIANAPOLIS
DEAR MAX: Shake! It's a deal.