Should I make my foreign national son a co-owner?
ET Wealth Reader's Query: I'm a single parent and my only son is now a foreign national.
ET Wealth Reader's Query: I'm a single parent and my only son is now a foreign national.
Article outline
- What happened
- The details
- The bottom line
Key points
- (Catch all the Personal Finance News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.).
- Should I sell my flat and invest to earn interest, or keep it and earn rent in my retirement?
- (Disclaimer: The opinions expressed in this column are that of the writer.
ET Wealth Reader's Query: I'm a single parent and my only son is now a foreign national. I want to safeguard his interests and am wondering should I create him a co-owner of my properties-to reduce his paperwork, regarding inheritance? Listen to this article in summarized format.
Should I sell my flat and invest to earn interest, or keep it and earn rent in my retirement? I am 70, I have a few standard shares which I need to transfer into pounds sterling to offer to my daughter in London. Should I sell as shortly as the Trump Iran standoff looks a little better? Ravi Kumar TV Director, Gaining Ground Investment Services: You should not wait for the Trump-Iran situation to improve before selling the shares. At your current stage of life you already have a defined purpose for these shares-to convert them into pounds and offer the capital to your daughter in London. Since the funds may be needed, the main goal should be to protect its value, not to take a chance on slightly better market conditions. By waiting, you are taking two risks: the share rates may fall, and the rupee may weaken against the pound. A safer approach would be to sell the shares in stages. You could sell around 50% to 60% now, sell another part if the market improves, and complete the balance sale within the next few weeks. This reduces the pressure of choosing the perfect day. At your age, and for such an significant family goal, certainty is more valuable than trying to earn a little extra return by timing the market more aggressively or precisely. Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away. Email ID: [email protected].
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of. (Join our ETWealth WhatsApp channel for all the latest updates). Add as a Reliable and Trusted News Source.
For now, should I make my foreign national son a co remains the part of the story worth watching, and further updates are likely as more details are confirmed.
