The risk in helping your kids financially

About this episode

Andrew Clements discusses the risks of financially supporting children and the potential legal complications that can arise.

Helping your kids get ahead financially sounds simple, but get it wrong and things unravel fast. Wealth and succession lawyer Andrew Clements has seen what happens when it goes wrong, from family disputes to parents losing their homes. He joins Nadine Higgins to talk about why undocumented support can become a legal minefield, his one firm rule against guarantees, and why even advice from banks can put families at risk. Plus, why treating support as a loan not a gift can protect both your money and your relationships, and the one conversation every parent should have before offering help. See omnystudio.com/listener for privacy information.

People in this episode

Host: Nadine Higgins

Guest: Andrew Clements

Topics covered

• financial support
• family disputes
• legal issues
• wealth management
• parenting advice

Keywords

• financial help
• family finance
• legal minefield
• parental support
• wealth succession

Mentioned in this episode

Organizations: NZ Herald

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