With increases to the cost of living and soaring house prices in Sydney, many older couples are feeling obliged to help their adult children financially. For some, it might involve providing a small loan after a child loses their job, or covering school fees for their grandchildren. For others however, it might mean a more significant investment, such as providing assistance with the purchase of a property.
But what would happen to the parent's investment if their adult child experienced a family breakdown? Would that mean the money was lost? After working hard to be in a position to help their children, how can they protect their investment if a family law dispute arises?
As an accountant, you need to be aware of the tools and strategies available to protect your clients' interests and investments. If your client is wanting to help their child financially, can they ensure that their money is protected if a family dispute where to arise?
The next Coleman Greig briefing for accountants will cover some of the many issues surrounding the protection of assets in a family law dispute. Presented by Coleman Greig Principal, and Accredited Specialist in Family Law, Malcolm Gittoes-Caesar, the briefing will specifically look at:
- Loans and gifts in the context of family law - what are the prospects of your client getting money back from a child who is going through a break-up?
- Can your client protect a legal or equitable interest in their child's property?
- Is a Binding Financial Agreement an effective asset protection tool?
- Keeping monies out of a family law dispute - is it even possible?
Don't miss this opportunity to hear how you can help to protect your clients' assets and provide the advice they need to hear... before it is too late!