The great wealth transfer: what you need to know before gifting money
1Description
Many parents and grandparents want to be able to help their children, and do so while they’re alive rather than leaving a large inheritance. But there are tax implications and gifting rules to be mindful of.
In this episode, co-founder and head of financial advice at Leeuwin Wealth Jason Featherby sits down with The Australian’s Wealth Editor Julie-anne Sprague to explain the tips, tricks and traps to helping your adult children financially.
In today’s show we cover:
-
Tax implications by gifting property to family members
-
How to know if you’re financially secure enough to help the kids
-
Why you should never close out your mortgage
-
And why it might not be a good idea to be a secondary credit card holder
See omnystudio.com/listener for privacy information.
United States
