Should $50,000 for each of our children be a loan or gift?
Plan carefully when gifting large sums of money. A clear strategy helps keep things fair, maintains family harmony and protects your financial security.
Dear Ms Wise, we have three children aged 28 to 35. The middle one is getting married, and we want to contribute $50,000 to each of them to cover wedding costs or a deposit for a first home.
How do we make this equal as they are likely to marry and purchase property at different times? Tom
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Should $50,000 for each of our children be a loan or gift?
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