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Forgive Debt (gifting)

 Once you've logged in to Trustworks, click on the trust you wish to Forgive debt (gifting), click Assets and Liabilities. Select "I would like to" which is located on the right of the screen. Under Other Transactions select "Forgive debt (gifting)"

Before you can Forgive debt (gifting), you need to setup a non-bank debt facility. Otherwise the following error in a pop-up "It appears that there are no loan accounts to forgive debt against."

To set up a non-bank debt facility click here

FORGIVE SOME DEBT

Which loan is being gifted down? Select the "non-bank debt" account applicable

How much is being forgiven? Enter the amount

Date of forgiveness? Select the date of the gifting

Any additional details Any other relevant information

Click here to see an example of Forgive debt (gifting).

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