Some adult children often come to their parents for help first when they're just getting started in life. Many parents extend loans to their children to help them finance their first house, start a business or go back to school. Helping kids achieve their dreams at any age is a parent's prerogative, and creating a loan structure that both benefits parents and their children can result in a clear, easy loan process for all parties.
Before agreeing to a contract, parents should determine how the loan will impact their own finances. They may be in the process of planning for retirement or already living out their retirement years. It's can be helpful to review their current assets and finances to make sure they have enough to cover them while their children repay the loan. In addition to examining savings