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Jeffery Palmer, ChFC®
Financial Planner
CA Insurance Lic. #0F60729
Cathy Davis
Client Service Specialist
Phone: 828-333-4748
Christina Palmer
Client Service Specialist
Phone: 828-333-4747
christina.palmer@prudential.com
Gaylen Allen
Client Service Specialist
Phone: 828-575-1250
Jaclyn Schmitz
Client Service Specialist
Phone: 828-333-4139
The Palmer Group
603 Alliance Court
Asheville, NC 28806
Phone: 828-687-8818
Fax: 828-687-4482
Website: jeffpalmergroup.com
May/June 2025
A Rope or Quicksand?
With today's home prices, you may be considering helping your child with a down payment for their first home. It's a generous gesture that can be just the pull-up they need. But the decision shouldn't be taken lightly. Without forethought, a financial windfall of this amount might sink some offspring into a hole of bad financial decisions. Here are some things to think about:
Their Financial Readiness
Is your child financially prepared for homeownership? It's not just about the down payment. They need to be able to manage monthly mortgage payments, property taxes, insurance, and maintenance costs. You might want to have a heart-toheart about their financial habits.Structuring the Agreement
Consider how to structure the agreement. Will it be a gift, or are you expecting repayments? How your agreement is structured can help ensure your financial assistance doesn't lead to complications later.You'll want to consult a trusted financial advisor or attorney to work out an approach that aligns with your intentions and keeps things clear between you and your child. And ask about possible tax implications.
Finally, keep communication open. Buying a home is a big decision, and your child should feel comfortable discussing everything from budget constraints to future plans with you.
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Jeffrey Palmer is a Financial Planner with, and offers securities and investment advisory services through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
LPLE and LPL Financial are not affiliated with The Palmer Group.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
The Palmer Group and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.