Hi We originally operated a business trading under a Partnership structure. After selling that business, we invested in other assets in a Discretionary Trust structure. Partnership funds were used to purchase the assets, and were treated in the accounts as "Loan from Partnership to Trust." If no documentation was prepared to state if this was a gift or a loan - what is the legal situation? Is it a loan or a gift? It now becomes important due to asset protection reasons, whereby one of the partners is bankrupt, with no assets apart from equity in the partnership. The only asset of the partnership is the "Loan to the Trust". Thanks.