Family Financial Arrangements - Loans, Legacy, Love & Lies
With the financial downturn and the credit crunch, inter-family financial arrangements are becoming increasingly common - and for many seniors - increasingly dangerous. Many seniors may want to 'keep the peace' in the family and end up providing loans or signing guarantees for their family members. In some cases this makes sense and can work well. In other cases, it can be disastrous for the senior, who has no way of making up that lost money. This seminar will review inter-family family dynamics, consider how to recognize this kind of (often hidden) transaction and how to understand how such a financial arrangement may affect interpretation of the senior's will. This seminar will also provide some tips on how to best support and protect your client.
- identifying hidden family financial arrangements - loans and guarantees
- learning about the law of 'advancement by portion' - assumptions / misunderstandings about loans and 'the will'
- awareness of innocent misunderstandings regarding loans vs financial elder abuse
Step 1: RESOURCE MATERIAL. Click Below to download and review support material:
Step 2: FEATURE COURSE PRESENTATION. Click on ‘Launch’ to load the module presentation.
Step 3: VALUE-ADDED CLIENT RESOURCES.
When you access the Maturity Matters Newsletters through the Member Benefits area, you will have access to the pdf version referenced below, as well as an HTML version of each newsletter that merges YOUR contact information into the Newsletter Banner to help promote YOU to YOUR clients and community.
Maturity Matters Newsletter: Caregiving Part 1 — Costs
Maturity Matters Newsletter: Caregiving Part 2 — Sharing the Load — Family Meetings
Maturity Matters Newsletter: Caregiving Part 3 — Caregiver Stress
Maturity Matters Newsletter: Aging and Technology
Maturity Matters Newsletter: Competing Values and Decisions #1
Maturity Matters Newsletter: Tough Decisions — Values #2
Age-Friendly Business Academy Blog: Multi-generational Families
AFB Member Benefits: Access Care Info Sheets Per Province
Step 4: REVIEW THE QUIZ INSTRUCTIONS AND TIPS. The option to start the quiz will not be available until you complete the module presentation.
To load the quiz, you must 'Refresh' this page after completing the Feature Presentation lesson. To Refresh the page, click on the F5 key or click on the reload symbol to the right of the address bar. Remember -- the quiz will not be available to load until you have viewed the full presentation.
5 questions associated with this module will be downloaded.
You must receive a score of at least 75% (4/5 questions answered correctly) to successfully complete this module.
If you do not achieve a score of 75% with your first try, don't worry, as you will be given the opportunity to retry the quiz, and another set of 5 questions will be made available to you.
Since the questions are selected randomly from a pool of questions, some of the questions may or may not be the same as the previous quiz.
You will notice that once you have completed a question, the correct answer will be highlighted in green, and any incorrect selection that was made will be highlighted in pink.
- Although we wanted to create reasonably challenging questions, we did not intend to create 'trick' questions. If it feels like a trick question to you -- please re-read the question carefully and ask yourself what fact or concept is being questioned.
- This is NOT a timed quiz. Take all the time you need to consider the question and make your best selection.
- Be attentive to questions asking which statement is NOT correct, or if all statements are correct EXCEPT.
- If you have read the question carefully, your first impression of the correct answer is usually the right choice to make.
Smile and Relax! We have provided you with every opportunity to do well.