Borrow From a Family Trust

published 2 July 2013

Last year, when Joe and Jacqui Polaneczky decided to make an offer on a condo in Chicago’s Lincoln Park neighborhood, they didn’t call a bank or credit union. Instead, they turned to the Bank of Polaneczky, borrowing money from a family trust set up by Jacqui’s grandmother.

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Block joined Kiplinger in June 2012 from USA Today, where she was a reporter and personal finance columnist for more than 15 years. Prior to that, she worked for the Akron Beacon-Journal and Dow Jones Newswires. In 1993, she was a Knight-Bagehot fellow in economics and business journalism at the Columbia University Graduate School of Journalism. She has a BA in communications from Bethany College in Bethany, W.Va.