There’s a great joy in being able to assist your children financially, especially when it comes to major milestones like purchasing a home or even contributing to their wedding. The act of providing financial support feels like a meaningful contribution, a gesture that can shape their future. However, the road to generosity can be fraught with unforeseen challenges. The complexities surrounding giving funds to your children means there are strategies to protect those meaningful gifts, ensuring they remain a source of support in the face of life’s uncertainties.
The Joy of Generosity
Imagine the satisfaction of being able to gift your children the means to embark on significant life endeavours. Whether it’s helping them purchase their first home, contributing to their wedding or supporting a business venture, the act of giving is undeniably fulfilling. It’s a testament to your love and commitment to their well-being.
The Unseen Risks
Yet, as we explore the landscape of financial generosity, a shadow looms in the form of potential future uncertainties. What if, down the road, your children’s relationships break down, or they face legal challenges such as lawsuits? In such unfortunate events, the very gifts you intended for your children’s prosperity could end up in the hands of an ex-partner or a business creditor.
Protected Giving – A Strategic Approach
The good news is that there’s a way to be both generous and protective. Enter the concept of protected giving – a strategic approach that shields the financial gifts you give your children from unforeseen events. This entails structuring the gifts in a way that safeguards them in the face of relationship breakdowns or legal proceedings.
The Art of Protection
By seeking professional advice and exploring legal structures, you can ensure that your financial gifts remain within the intended family circle. There are various ways to shield your generosity from potential adversities, preserving your children’s financial well-being.
The Call to Action
If you aspire to give financial gifts to your children while safeguarding them from the uncertainties of the future, seeking professional advice is paramount. Our Financial Advisors can guide you on how to structure your generosity in a way that provides both support and protection. To discover how to achieve protected giving and navigate the intricacies of financial generosity, we invite you to contact us. Let’s work together to ensure that your meaningful gifts are a support for your children, even in the face of life’s unpredictable twists.
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Disclaimer
This information is general advice. We have not considered your objectives, personal or financial circumstances. You should consider the appropriateness of the advice for your circumstances before making any decision. You should obtain and consider the relevant Product Disclosure Statement and seek the assistance of an authorised financial adviser before making any decision regarding any products or strategies mentioned in this communication.
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This presentation has been prepared and presented by Roger Perrett, Freshwater Wealth Management Pty Ltd CAR no.1307016, Alliance Wealth Pty Ltd AFSL No.449221. This information cannot be used or copied in whole or part without our express written consent.
While every effort has been made to ensure the accuracy of the information, it is not guaranteed. It is based on our understanding of regulations and laws as at the publication date. As these are subject to change you should talk to a professional adviser for the most up-to-date information.
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