Many of us were brought up with the attitude and expectation that we should stand on our own feet financially, but this outlook has changed quite dramatically in recent years. The cost of housing, introduction of university fees and squeezes on pay rises mean that, overwhelmingly, we acknowledge that today’s younger generations have got it a lot tougher when it comes to money. There is a real desire to help, but what’s the best way?
Financial Planning Director Gemma Helliwell is joined by Managing Director Emma Sterland and estate planning technical specialist Jocelyn Davis to discuss this subject.
Listen to the podcast now
The podcast is also available on all major podcast platforms including Apple Podcasts, Spotify and Google Podcasts. Simply search for “The Tilney Investment Podcast” or click the below links.
2.49: Key points to consider when giving financial help to children of any age.
- How much can you afford to give away?
- Lump sum or regular amounts? Jocelyn talks about the tax implications including Inheritance Tax.
- When is the right time to give money to children?
8.13: Emma highlights how people usually want to be fair. They don’t want to pass on money until their children have reached an equal point. But this time rarely comes and, while they’re waiting, decisions get delayed.
- Is this financial gift too much too soon?
- Will family money get lost in a divorce or perhaps bankruptcy?
11.23: Jocelyn explains how trusts can be used to retain control over financial gifts: they’re “like a protective wrapper around your gift”.
14.21: Emma highlights how she works with clients to understand what they’re aiming to achieve from their gifts and then puts in place the right structures.
If you’d like to talk about your specific circumstances and find out how we can help, please do get in touch. Give us a call on 020 7189 2400 to find out more or book an appointment for a free initial consultation.
This podcast is solely for your information, it shouldn't be construed as financial advice.
Get in touch
If you have any feedback about the podcast or ideas for future episodes, we would love to hear from you. You can get in touch by emailing email@example.com or calling us on 020 3811 3625.
This article was previously published on Tilney prior to the launch of Evelyn Partners.