Generational Wealth

The Bank of Mom and Dad: FAQ and Closing Thoughts

Being the Bank of Mom and Dad isn’t about playing financier—it’s about using your resources wisely to bless your family without undermining your financial security or family harmony. Done thoughtfully, lending can: Pass along some financial benefits to future generations. Preserve dignity on both sides. Reinforce personal responsibility. Build intergenerational trust. But it requires structure, documentation, and heart-to-heart conversations—so that your generosity leads not just to opportunity, but to lasting unity and understanding. This is Part 3 of the How to Be the Bank of Mom and Dad Series. Part 1: How to Be the Bank of Mom and Dad: A…
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How to be the Bank of Mom and Dad: Funds, Terms, and Estates

So you've decided you want to become the Bank of Mom and Dad. Fortunately, you don't have to register with the state or federal government. However, there are some important considerations you should address.  This is Part 2 of the Bank of Mom and Dad Series. Part 1: How to Be the Bank of Mom and Dad: A Guide to Lending Support Without Losing Your Mind (or Money) – Gilbert Wealth Part 3: The Bank of Mom and Dad: FAQ and Closing Thoughts – Gilbert Wealth The Best Sources of Funds Before you act as a lender, assess how the loan fits…
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How to Be the Bank of Mom and Dad: A Guide to Lending Support Without Losing Your Mind (or Money)

Many parents want to help their children financially—but just handing over a check isn’t the only option. More and more families are turning to what’s often called the “Bank of Mom and Dad,” where parents offer loans instead of gifts to children for major life expenses: buying a home, starting a business, or consolidating debt. Done well, it can be a powerful way to support your child while preserving fairness and family harmony. Done poorly, it can lead to resentment, financial strain, and even legal trouble.This guide covers how to be the Bank of Mom and Dad wisely blending heart…
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What Is Generational Wealth and Why Does It Matter?

When people hear the term generational wealth, their minds often leap to sprawling estates, trust funds, and family businesses passed down like heirlooms. This stunning image of the Biltmore Estate captures the grandeur of America’s Gilded Age—a time when the Vanderbilt family stood as the richest in the country. Built by George Washington Vanderbilt II in the late 1800s, the Biltmore was a symbol of unmatched wealth and vision. Yet within a single generation, the fortune that funded this 250-room mansion had all but disappeared.Despite their immense financial power, the Vanderbilts failed to pass on the financial discipline, unity, and…
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Lifetime Gifting Without Regret: How to Give Without Compromising Your Future

Many individuals aspire to share their wealth during their lifetimes with family and friends. Lifetime gifting can be a meaningful expression of love, support, and generosity—helping children buy their first homes, supporting a grandchild’s education, or simply offering help when needed. However, these well-intentioned gifts can sometimes compromise the giver’s own financial security if not approached with thoughtful planning. The Impact of Gifting During Your Lifetime Unlike bequests that aren't received by the beneficiary until death, lifetime gifts allow you to witness and enjoy the benefits your loved one's experience from your generosity. For example, a gift toward a home…
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