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Private Client Webinar: The Bank of Mum and Dad - Considerations for loaning money to your children

  • When: 18 August 2020
  • Time: 11:00 am - 12:00 pm AEST
  • Where: Online via Zoom using your PC or mobile
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If you missed the webinar, you can download a copy of the presentation slides and watch the replay here.

Title Slide - Bank of MD - Play

Who should attend: Parents considering loaning money (or children being lent money) who are not sure how to go about it or what may happen if things go awry.
It is not uncommon for children to receive financial support or a financial contribution from mum or dad (or even another family member) to get a foot in the property market. The “Bank of Mum and Dad” is now the fifth biggest home lender in Australia, with 29% of parents reaching into their wallets to help their children.

While many parents may assist their children with no intention of receiving repayment, a loan may still be the most prudent approach rather than a gift. Some of the key considerations for any parent are:

  • Will I need this money in the future?
  • What happens if my child defaults on their other loan/mortgage to another bank? Will I get my money back?
  • What happens if my child goes through a relationship breakdown? Will their ex get the property or my money?
  • Can I do the same for my other children and how does this affect my Will?
  • What happens if this strains my relationship with my child or other family? 

In this webinar, you will gain a better understanding of:

  • Different approaches to documenting loans. This webinar will cover everything from “shaking on it”, to a simple “I O U” to “belts and braces” documentation.
  • Common characteristics and terms found within loans, including approaches to repayment, interest rates and terms of default.
  • The different levels of protection each approach affords the lender and steps a lender can take to maximise protection.
  • The treatment of loans by the Family Court, where a party to the loan is going through a relationship breakdown.
  • The treatment of loans in estate administration and/or estate litigation, where a party to the loan has passed away.

Join our panelists, Senior Associate Angelo Bistolaridis, Senior Associate Jana Sosner, and Associate Camille Broadhurst for an interactive session.

You have the opportunity to submit questions before the webinar. Please submit any questions to events@rk.com.au.

Webinar Details

We are utilising Zoom to run this webinar. Zoom is free to download and can be viewed from your PC/mobile device. 

The live webinar is free to attend and attendees will be sent a link to log into the live webinar room 15 minutes before the scheduled start time.

DATE: Tuesday 18 August 2020

TIME: 11:00 am – 12:00 pm AEST

COST: This webinar is free to attend but bookings are essential as places are limited.

To register for this online webinar click the button below:

Register for the webinar here

Presenters:

Angelo-Bistolaridis

Angelo Bistolaridis

Senior Associate

Angelo has experience in complex financial proceedings involving third-parties, trusts and interested parties – including matters that have involved banking institutions and the Australian Taxation Office along with contested divorces, family law proceedings involving jurisdictional issues with foreign courts, child support disputes including those heard before the Court, – and parenting matters involving extended family members and serious allegations of abuse and harm.

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Jana-Sosner

Jana Sosner

Senior Associate

Jana practices primarily in Wills and Estates, Estate Planning and Estate Administration. Jana has over 9 years experience and works closely with her clients and their other advisors to resolve and prevent legal issues and to ensure that the clients’ objectives are achieved.

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Camille-Broadhurst

Camille Broadhurst

Associate

With an emphasis on providing exceptional client service, Camille works with clients to tailor estate plans that take desires and philosophies and turns them into asset protective, tax effective and flexible structures. Clients can rest assured that Camille’s holistic review of their unique circumstances will bring them peace of mind that their affairs are in order.

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Event contact

P +61 3 9609 1555
E events@rk.com.au
For more information regarding this webinar please contact Tom Simper.