Parents sometimes provide money to children to help with education, buying a home, or starting a business. That money can be an outright gift that no one ever expects to be repaid or accounted for. Other times, the money can be a loan to the child or it can be an advance on the future...
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Source: http://retirehappyblog.ca/formalize-loans-to-your-children/
Pierco Energy Gordon Brent Pierce Pierco Management
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