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Many parents and grandparents want to help their children financially during their lifetime or thorough their estate. But what happens when concerns arise about a child’s spouse, marriage or potential future relationship breakdown?

In this episode of Retiring Canada, we discuss several planning strategies families may consider when gifting money to children while attempting to protect those assets from unintended outcomes.

You will learn the difference between gifting and loaning money, why documentation matters, how separate property rules may apply, and the role domestic contracts can play in protecting family wealth. We also discuss trusts, estate planning considerations, declarations of gift, promissory notes and why these conversations often require both financial and legal guidance.

We also explore the emotional side of family wealth planning and why some of the most important financial conversations are often the most uncomfortable to have.

This episode is for Canadian retirees, parents, grandparents, business owners, and families who want to better understand how gifting and inheritance strategies can impact future generations and family wealth preservation.

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