The world of apps and technology is ever growing… and at times can seem overwhelming. But with that also come many resources and information made more readily available to us. Case in point, Zirtue is an app that inheritors and wealth holders can use to track personal loans. It helps people navigate the details of lending and borrowing money with loved ones and people in their personal lives. If you have substantial financial resources, it can be a great feeling to share your wealth and help those you care about. However, you don’t have to be a financial professional to know that lending money to friends and family associates can become very complicated.
Often, discussions about personal loans are no more than casual conversations between two parties, without expectations set up on either side. Stress can quickly arise, as well as uncertainty – or guilt – on both the receiver’s and the lender’s end. It can become an uncomfortable topic to bridge, and it can sometimes even drive a wedge between friends and family members. Communication and clarity are key from the start! Lending money in this context doesn’t have to rise to the level of getting an attorney or bank to draft an agreement for you. Zirtue easily and securely enables you to track personal loans, set payback dates and amounts, and send and receive correspondence such as payment notes and messages, all in one place. Zirtue also offers an option for one-time payback, or installments that are set up as auto-payments, so neither party hast to think about it. The app uses secure bank-to-bank software and identity verifications to protect the financial and personal data of users. The app also keeps a clear record of every activity, to simplify keeping records of where your money went and what it was used for.
If you’re an heir who has received windfall wealth and you’re thinking about working with a wealth coach that specializes in inheritors/inheritance, TWC can help. Our experienced wealth coaches utilize a variety of programs, resources, and strategies to help inheritors navigate the complex issues surrounding inherited wealth.
Any reference in this article to any organization, products, or services, or any linkage from this website to the website of another party, does not constitute or imply endorsement or recommendation by The Wealth Conservancy, Inc.