Lend to Friends and Family the Right Way

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One of the biggest drains on your client’s account may not be the market but rather family requests for money that may never be repaid. Preserve clients’ assets—and emotional health—by recommending the setup of a “family bank” where loan requests are reviewed, approved of, and accounted for.

Bypass Taxes When Making Family Loans

Many of us have been tempted to reach into our pockets and extend an informal loan to a relative in need, stipulating simply, "Pay me back when you can." But such vague language can lead to unnecessary taxes.

Changing Tax Rules—Rethinking Gifting and Estate Plans

Federal taxes on estates and gifts, long unified, have come to a parting of the ways. Clients may now need to rethink strategies for gifting and for avoiding potential estate tax.

Beware the Tax Consequences When Lending Money to Friends and Family

Generosity sometimes comes with a price attached. Careful planning can avoid unpleasant income and gift tax implications.