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