The Bank of Mum & Dad – an Up-close Look at Gifts, Loans & Promises
In today’s environment, the ‘Bank of Mum and Dad’ is being increasingly called upon. Demands from clients for ‘family financing’ are a common situation faced by financial advisers in its many hybrid forms and methods.
This financing is done to help family members however there is serious potential for dispute and loss of portfolio value!
Hear current best practice from an estate planning perspective for protecting the family wealth and assets while ensuring maximum benefit to the family.
In this session, Bryan will take you through:
the ways advisers can identify the issues and solutions to preserve equity for the lenders (parents) in order to recommend appropriate specialist advice
safeguarding the interest of beneficiaries and family members
what safeguards are available in case relationships fail, a business fails or funds are needed for other purposes.
Advisers will leave this session with a deeper understanding of the implications and potential issues involved in family lending, and ways to provide structure and assistance in this often emotive area.
About Bryan Ivamy: Bryan is the Senior Manager National Partnerships and Business at Perpetual Guardian and has worked in the Trustee Industry for almost 40 years. In this time he has acquired a wealth of experience and knowledge and now works with corporates and industry professionals. A key focus of Bryan’s role is to help educate and increase awareness of the benefits and requirements of good Estate Planning and the value this provides to Perpetual Guardian’s business partners and their clients.
At the foundation of this advice is his belief that good Estate Planning is about understanding the client, their circumstances and the objective they are trying to achieve. It is very much about personalised advice and tailoring the solution to the client’s situation.
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