Posts Tagged ‘co-sign debt’


3 Easy Ways to Financially Help Your Children or Grandchildren

Do your children or grandchildren need some financial assistance?

Here are 3 Easy Ways to help them:

 

1) Make a Loan

Parents and grandparents can loan to their child or grandchild.  If this is the approach taken, a formal loan agreement should be drawn up.  This should include interest and the repayment terms.  The Internal Revenue Service (“IRS”) will require a minimum amount of interest to be charged.  This is known as the Applicable Federal Rate (“AFR”).  This … Continue reading »