Personal Loans: Avoiding Financial Complications

If you are considering offering to loan money to a loved one, there are administrative matters and some financial, tax, and regulatory considerations to cover to protect yourself and your relationship.


The ongoing Covid-19 crisis is affecting the financial well-being of many people around the world, potentially forcing them to rely on family and friends to borrow money. If you have offered, or are considering offering to loan money to a loved one, there are administrative matters and some financial, tax, and regulatory considerations to cover to protect yourself and your relationship.

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Here are a few articles that may be useful:

Additional  resources:

While lending money to a family member or friend may be necessary, some planning and open communication will help set expectations and help avoid financial and legal problems. If you have any questions, please contact Jaycee Smalley, CFP at jsmalley@newcapitalmgmt.com or 713-388-6322.

 

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