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The great wealth transfer: what you need to know before gifting money

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Manage episode 510234589 series 2634896
Content provided by [email protected] and The Australian. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by [email protected] and The Australian or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

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.

  continue reading

562 episodes

Artwork
iconShare
 
Manage episode 510234589 series 2634896
Content provided by [email protected] and The Australian. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by [email protected] and The Australian or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

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.

  continue reading

562 episodes

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