Parents often want to give financial assistance to their children. How much should parents give, and whats the best way to do it?
On today's show, Doug Goldstein, CFP examines generational giving. Learn about the tax considerations involved in gifting money to your children, and how the wrong kind of assistance can make your children more dependent on you and less able to manage their money.
Apart from the issue of helping your children financially during your lifetime, is it important to leave them an inheritance? Attorney Jeff Condon, author of Beyond the Grave: The Right and Wrong Way of Leaving Money to Your Children, explores how estate planning can affect family relationships. Listen for tips on appointing executors, protecting your estate from taxes and how to preserve your estate's value.