How to give children before marriage

The September peak season of marriage, many friends have chosen to complete the important life event of marriage in this time period.

As the saying goes, "a hundred years to repair the same boat, a thousand years to repair the common pillow sleep", a lifetime together, is a rare.

The stumbling and grinding to go through life, is lucky.

The biggest fear is that divorce will result in the division of property, causing both people and money to be empty, and both lose.

Some parents have asked such a question before, there is a sum of money in hand, want to do some premarital property arrangements before the children get married, how to do?

Today we will talk about this topic.

01

For those who have not yet entered into marriage, premarital estate planning is especially important!

First of all, we need to know what is listed as the common property of the couple?

Article 1062 of the Civil Code

The following property acquired by the spouses during the marriage shall be the common property of the spouses and shall belong to them jointly.

(a) Wages, bonuses and other remuneration for labor services

(B) the proceeds of production, business, investment

(3) the proceeds of intellectual property rights

(D) inherited or gifted property, except as provided in Article 103(3) of this Law.

(E) other property that shall be owned jointly.

Spouses have equal rights to dispose of their common property.

Article 103 of the Civil Code

The following property is the personal property of one of the spouses

(a) The premarital property of one of the parties

(ii) Compensation or indemnity received by one of the spouses for personal injury suffered

(iii) Property determined in a will or gift contract to belong to only one of the spouses

(iv) The household goods for the exclusive use of one of the parties

(5) Other property that should belong to one of the parties.

02

Many parents want to give more support to their children, but on the other hand, they are worried about their children's marital problems and suffer losses.

In order to solve such problems proactively, you may want to consider insurance as a tool.

As a capital management tool, insurance is also known as a "cash vault" for premarital property because of its long-term stable structure and special attributes.

Well, if you want to plan your prenuptial estate through an insurance policy, let's see how it works.

We can buy an annuity insurance or an incremental whole life insurance policy before the children get married

An incremental whole life insurance policy, for example, is perfect for such premarital planning. An incremental whole life insurance policy can keep this dowry expense growing in value.

In terms of policy settings, you can set up.

● Insured: Parents

● Insured: Children

● Surviving beneficiary: children

● Death beneficiary: parents

The parent, as the policyholder, controls the policy to prevent the principal from being squandered.

The proceeds generated by the policy can provide a steady cash flow income for the insured (i.e., the child).

If the proceeds are not used, they can be placed in the insurance's investment account and continue to compound interest.

If te insured is an adult child, the actual property interest in the policy will remain with the insured's parents even if there is a marital risk later in life, and the policy will not be divided and the property will be effectively preserved.

Let's take a look at an example. Suppose Mr. and Mrs. W plan to save a dowry for their daughter, and if their daughter gets married at 25, Mr. and Mrs. W save a lump sum of $300,000 for their daughter's incremental whole life insurance, then how can this dowry for their daughter increase in value?

We can simply look at the above screenshot, if we give our 25-year-old daughter a lump sum deposit of $300,000 into a high predetermined interest rate incremental whole life insurance product.

When the daughter turns 30, the account will have $326,000 in it

When the daughter turns 40, there will be $498,000 in the account

Daughter turns 50 with $703,000 in the account

When the daughter turns 60, there is 992,000 in the account

At age 70, the daughter has $1,399,000 in her account

You can see that the income is very significant.

How can this money be used?

First of all, the policyholder is the parents, the money is at the disposal of the policyholder, the parents naturally will not touch the money, let the money in the account silently increase in value, when in the future daughter needs money that day, the money can always protect the daughter.

For example, if your daughter is in her 40s and her income is unstable, or if she needs money for an illness, the money in the account can be withdrawn in installments or at once to help her through a difficult time.

If the daughter is safe and sound, by the time she is 60 years old, the 1 million dollars in the account can supplement the daughter's retirement. 1 million dollars, 50,000 dollars a year, and the remaining money in the account will continue to compound and increase in value, enough for the daughter to receive until the age of 80-90.

As a parent, you always think more about the future of your children.

If we can use financial tools to help our children plan for their future needs in advance, our children's lives will be more relaxed and calm.

Only tolerant love and mutual understanding in a marriage can make each other grow old.