The Bank of Parents

- PARENTS PROVIDING FINANCIAL ASSISTANCE to children has become a prevalent practice. However informal lending entails considerable emotional and financial risks particularly in the absence of well-defined legal parameters. - Informal verbal agreements regarding FINANCIAL ASSISTANCE from The Bank of Parents can readily result in contentious family disputes which lead to FINANCIAL TRAUMA. - When FINANCIAL TRANSACTIONS AMONG FAMILY MEMBERS go wrong, the repercussions reach well beyond mere monetary concerns. - The emotional aftermath frequently results in profound, invisible TRAUMA that may require generations to mend. - When a VERBAL FINANCIAL AGREEMENT between family devolves into a dispute, it evokes a deep sense of betrayal and causes FINANCIAL TRAUMA. - Parents perceive themselves as exploited by the child they nurtured, while the child experiences a sense of betrayal and manipulation from those who are meant to offer unconditional love. - The fundamental trust that previously united the family unit has been replaced by a persistent atmosphere of suspicion and doubt. - When financial assistance to children or grandchildren is inconsistent or concealed, it serves to intensify family rivalries. This creates EMOTIONAL TRAUMA and swiftly transforms into profound resentment directed toward the children or grandchildren who are perceived as receiving preferential treatment. Such perceived disparities often foster a detrimental atmosphere of comparison that has the potential to irreparably damage inter family bonds. - A FORMAL FINANCIAL AGREEMENT provides clarity and security for everyone. Defining these boundaries is a healthy practice that strengthens family unity.