If you’re paying for your grandchildren’s education costs, then you’re not alone. But is this financial support a ‘gift’ or a ‘loan’ to your children? If this is left in any doubt, then bitter family disputes will arise. Take the time now to make sure the ground rules are clear.
Deciding to get married is a big emotional decision. But it’s also a massive legal and financial decision. Asset ownership, asset protection, super, life insurance, decision making, estate planning and family financial support, all need to be carefully considered to provide a solid legal foundation for a successful life together.
So you want to help a family member under financial strain? What starts out with the best intentions can soon result is family disharmony. Confusion about whether the advance is a loan or gift can quickly result in argument. The tragedy is that this is so easy to avoid if you take some simple precautions from the outset.
If you are incapacitated for a period of time, things won’t stand still and wait for you to recover. Someone still needs to manage your legal and financial affairs, and others will need to make personal and healthcare decisions for you. Do you have the necessary documents in place to make this happen, and avoid the need for your loved ones to apply to the Government for help? If not, read this.
Download our comprehensive guide to controlling your family trust.
In this article we cover the important questions you need to answer to put in place an effective Will, namely: why should you make a Will, who gets what, how do you fairly divide your assets if you are in a ‘blended family, and who you will need to involve in your estate plan? Time to act!