Julia Carpenter
speaker
3,850 appearances
71 recordings
1 series
first heard Oct 2019
last heard Sep 2024
Julia Carpenter’s voice in public audio — every appearance, attributed to the second.
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Appearances
The other thing that could happen is that they resent it because it feels transactional or because it feels the parents are giving them this money in order to reach certain milestones.
This is for you guys to get married.
Well, we don't want to get married.
This is for you to buy a house.
All right, I don't want to buy a house.
These different things that were important to the parents that the money is sort of communicating, hey, this should be important to you too.
Drop a set of rules, but also feel free to talk about that amount of money instead of it just landing your account or, you know, talking about it briefly and then it ending.
Talk about, hey, when you gifted me this amount of money, it was really important because I could reach this.
My goal is to now do this.
Or the parents saying, we're giving you this amount of money.
It is only for the grandchild to go to the private school or it is only so that they can go to this camp.
Giving rules, but also just talking about it more and talking about how it makes you both feel.
So it depends on if it's a loan or if it's a gift.
That's where we need to be clear.
If there is a loan, that comes with its own set of tax implications and rules.
If it is a gift, that comes with another.
So if you're giving a loan, there has to be a 3% interest rate minimum.
That's the agreement between a parent and a child.
So you're already agreeing that there is going to be that structure to the loan.
If you're giving an amount of money, so a parent gifting this to a child, they can gift up to $18,000 without there being extra tax implications on top of that.
Showing 281–300 of 3,850 · page 15 of 193
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