Loaning money to family member

[Nile]

Hello, I have a family member requesting to loan $30k from me and requires it within the next week for legitimate reasons. I am willing to do so but want to protect my loan. Is it sufficient to draw up an agreement and have us both as signatories, witnessed by a notary?

Thanks

 

[omsontin]

I know it has been already a lot of time since you posted this, however i am really interested, what have you done in this situation? I am in a pretty similar situation, a family member also wants to get a loan of 15.000 bucks from me. I am not really sure what i should do, as it is a family memeber. I am almost sure that an agreement witnessed by a notary is enough, however i might not be right. I actually recommended this person to try and seek for some side hustle ideas, as it is not the first time when i am loaning out him this kind of sums.