Can you help your kids buy their first home and protect your money in the process?
Many parents want to help their kids buy a first home. Is this a good idea, and if so, what’s the best way to do it?
Many parents lend their children money for their first homes. But they may actually cause harm to their own financial picture if they fail to plan the loan carefully. Nicole Ewing, Director, Tax and Estate Planning, TD Wealth talks about how to protect yourself and avoid family rifts.
When someone gifts money or assets to another, it is not uncommon that a third party may question that transaction and claim it wasn’t intended as a gift. Documenting your intentions through a deed of gift when you make a gift of money is one way to avoid messy legal challenges.