Loaning money to family members can be tricky if you’re not careful. Although some view it as a way to alleviate potential issues, without proper guidance, you could wind up creating new ones. Our President Mark Weiskind, CFP, CPA/PFS (inactive) spoke with Barron’s and shared his thoughts on how to avoid complications when navigating intra-family loans. Mark notes that loans “should be money that the parent is willing to turn into a gift. You’re very unlikely to push hard to collect from your child.” Click here for the full article.
