Promissory Note Assignment: What happens when one of the recipients dies? (Oregon)

I borrowed a large sum of money from my grandmother many years ago. We had our family attorney write up a Promissory Note regarding the terms of repayment and an additional document transferring assignment of the Promissory Note to my grandmother's three sons(my two uncles and my father) upon the death of my grandmother. She passed last year and I have been paying my father and uncles ever since. The amount I was initially paying my grandmother per month is now split among those three every month. ($1000 monthly, they each get $333.33 per month).

One of my uncles is going to have surgery later this month and it carries some risk that he may die. If he does, what happens to his portion remaining in the Promissory Note? Can my uncle designate in his will that his portion is to go to his two children($167.67 per month each)? Or are my father and other uncle entitled to having that amount added to their current payment instead, bring them up to $500 per month each? Nobody is mentioned in the Promissory Note outside of myself, my wife, my grandmother, my father, and my two uncles.

I've never missed a payment and am in no danger of that happening for the 5 years remaining in the loan term, I'm just trying to get a grasp on what to expect if my uncle does pass. I know I should probably contact our attorney, but wanted to see if I could get some thoughts on this before spending money on the consultation. Thanks!

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u/dgtbfan — 9 hours ago

Promissory Note Assignment: What happens when one of the recipients dies? (Oregon)

I borrowed a large sum of money from my grandmother many years ago. We had our family attorney write up a Promissory Note regarding the terms of repayment and an additional document transferring assignment of the Promissory Note to my grandmother's three sons(my two uncles and my father) upon the death of my grandmother. She passed last year and I have been paying my father and uncles ever since. The amount I was initially paying my grandmother per month is now split among those three every month. ($1000 monthly, they each get $333.33 per month).

One of my uncles is going to have surgery later this month and it carries some risk that he may die. If he does, what happens to his portion remaining in the Promissory Note? Can my uncle designate in his will that his portion is to go to his two children($167.67 per month each)? Or are my father and other uncle entitled to having that amount added to their current payment instead, bring them up to $500 per month each? Nobody is mentioned in the Promissory Note outside of myself, my wife, my grandmother, my father, and my two uncles.

I've never missed a payment and am in no danger of that happening for the 5 years remaining in the loan term, I'm just trying to get a grasp on what to expect if my uncle does pass. I know I should probably contact our attorney, but wanted to see if I could get some thoughts on this before spending money on the consultation. Thanks!

reddit.com
u/dgtbfan — 18 hours ago

Camping at Valley of the Rogue State Park

Looking to rent a yurt there for a simple camping trip with my child. I've heard rumors that the park is tweaker territory but have no clue how true that is. Anyone have experience staying there?

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u/dgtbfan — 10 days ago

Places to take an active 6yo?

Thinking of doing an End-of-Summer Trip to Seattle to visit my brother who lives in Tacoma. We'd likely be staying in Seattle proper and renting a vehicle. Looking for things to do that would be entertaining for a very active child. No zoos because I have the one kid in the world that hates them.

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u/dgtbfan — 13 days ago

Firewood near Brookings?

Going camping at Harris Beach next week and wanted to get some firewood. Where can I get some that isn't like $10 for 3 twigs?

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u/dgtbfan — 19 days ago

Reasonably priced firewood?

Going camping at the coast next week and wanted to buy some firewood for our campsite. I know some stores sell firewood but they obviously charge a lot for a tiny amount. Where can I get a decent amount for a decent price?

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u/dgtbfan — 23 days ago

What should my next step be?

I received my Associate of Science in CS back in 2020 and got a job in 2021 as a SaaS Application Developer for local government. I like what I do, the job is pretty laid-back and the pay is decent for where I live, but not particularly high. Between the relatively low salary cap and the fact that they're actively working on taking away our already limited remote-work policy, I want to start preparing to move on in the next 2 years.

To that end, I've decided to enroll in WGU to get my Bachelor's to improve how my resume looks(and because I want to say I have a Bachelor's). I'm wondering if I should just get a BS in CS or if I should pursue something more specialized. Any thoughts or tips on what I should be considering?

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u/dgtbfan — 27 days ago

Are we overreacting to what this summer camp owner said or is this extremely suspicious?

My wife and I to an open house today at a new summer camp that opened up in our town this past month to check it out and see if our 6yo would be interested in going. I took my child around the place to check out the different things to do while my wife walked around with the owner to talk about the place.

At some point during the conversation, the owner mentioned to my wife that she knew a lot of daycare owners and employees in the area and would sometimes have volunteers come help out and give them gift cards in exchange. While we've already decided not to enroll our child because we were underwhelmed by the place(there wasn't much to do and they didn't even have an outdoor play area set up yet), this particular line really set off alarm bells to me.

It basically feels like they're doing something weird to get unvetted people around the children. I know this sort of paranoia is a bit rampant these days, but I can't help but feel like that is a colossal red flag to the point where I should report that to someone. Is that a crazy thought or am I on to something here?

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u/dgtbfan — 29 days ago

Last FE I played was Awakening and I loved it. Engage and Three Houses are both in sale on Amazon for $40 right now, so I'm looking to snag one. Which would I enjoy more?

Edit: I appreciate all the feedback but damn you guys didn't make this any easier lol.

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u/dgtbfan — 2 months ago