Episode 69: Know the Risks of Gifting Money, Unwrap Peace of Mind Instead
Jan 31, 2025
Pennsylvania - South Central PA
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With the holidays upon us, you might be tempted to gift large sums of money to your children. However, Jeff warns against this seemingly generous practice because gifting cash and/or assets carries real and potential risks, including loss of control, severe tax implications, and inability to pay for long-term care.
Jeff recommends a more thoughtful and lasting gesture—give peace of mind. Do the things that will serve your children best in the long run. Make sure that your affairs are in order. Have your powers of attorney in place. Pre-plan your funeral. Set up a trust to ensure your money and assets are protected and preserved so that your children can enjoy the peace of mind that you wish for them.
🍎 Apple: https://podcasts.apple.com/us/podcast/know-the-risks-of-gifting-money-unwrap-peace-of-mind-instead/id1634278675?i=1000635764582
🎬 YouTube: https://youtu.be/u4tpmJ8Akfo
🟢 Spotify: https://open.spotify.com/episode/4iqhTAT9km7IVUKlEjPHUg?si=w9JMmrYeTo-wn4AoPB7JEg
- To view the original version of this article visit youtu.be/u4tpmJ8Akfo
- Seniors Blue Book was not involved in the creation of this content.
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