What Parents Should Consider As Their Child Becomes Independent

The Agent of Wealth

Many people wonder how their own finances will change as their children become independent. Where do parents draw the line with their children? What level of involvement and/or support should the parents maintain with their children? What are some planning points that parents need to be aware of, and how can they make smart decisions that benefit themselves and their children? In this episode of The Agent of Wealth Podcast, host Marc Bautis provides guidance on what step you can take now, and in the future, to keep yourself on track for personal and financial success as your child becomes independent.

In this episode, you will learn:

• How parents can maintain access to their child’s important health, financial and academic information after their child becomes independent.
• How financial goals may change (or need to be revisited) once their child leaves the house and becomes independent.
• How parents can determine the extent to which their child will remain commingled with their finances as they become independent (taxes, health insurance, auto insurance, gifting, etc.).
• How parents can evaluate the level of risk/liability their child may pose to their own finances.
• And more!

Resources:
Episode Transcript & Blog | Download the Interactive Checklist | Bautis Financial: 8 Hillside Ave, Suite LL1 Montclair, New Jersey 07042 [phone] | Schedule an Introductory Call