1 00:00:01,320 --> 00:00:03,160 Speaker 1: And Amanda jam Ny. 2 00:00:03,120 --> 00:00:05,000 Speaker 2: Si down to the Jonesy demand of arms for the 3 00:00:05,000 --> 00:00:08,440 Speaker 2: pub test today. Giving your kids an early inheritance? Does 4 00:00:08,480 --> 00:00:09,559 Speaker 2: it pass the pub test? 5 00:00:09,800 --> 00:00:12,920 Speaker 3: Research reveals seven out of ten parents aged over fifty 6 00:00:13,240 --> 00:00:16,319 Speaker 3: intend to give their children an early inheritance if you 7 00:00:16,400 --> 00:00:18,840 Speaker 3: can a lot of Well, the cost of living is 8 00:00:18,840 --> 00:00:21,480 Speaker 3: affecting everyone, so not everyone obviously is in a position 9 00:00:21,560 --> 00:00:23,880 Speaker 3: to do this. And also as you get older, you 10 00:00:23,920 --> 00:00:27,479 Speaker 3: don't know what your changing circumstances might be. But having 11 00:00:27,520 --> 00:00:30,240 Speaker 3: said that, it's much harder for our children to get 12 00:00:30,240 --> 00:00:33,720 Speaker 3: a foot in the door financially in terms of real estate, 13 00:00:33,760 --> 00:00:35,959 Speaker 3: in terms of all that stuff than it was for us. 14 00:00:35,960 --> 00:00:38,599 Speaker 3: So lots of parents to collect the Great Wealth Transfer 15 00:00:39,040 --> 00:00:41,280 Speaker 3: aiming to help their kids now when the kids need it, 16 00:00:41,360 --> 00:00:44,040 Speaker 3: rather than waiting until you've passed away. What do you 17 00:00:44,120 --> 00:00:47,440 Speaker 3: think giving your children an early inheritance? Does it pass 18 00:00:47,479 --> 00:00:48,400 Speaker 3: the pub test? 19 00:00:48,800 --> 00:00:51,319 Speaker 1: Yes, it does, as long as you can afford it 20 00:00:51,800 --> 00:00:54,200 Speaker 1: and your crystal ball is working to know that you're 21 00:00:54,240 --> 00:00:55,120 Speaker 1: not going to need it. 22 00:00:55,200 --> 00:00:57,640 Speaker 4: Well, if people want to give people a gift before 23 00:00:57,680 --> 00:01:00,120 Speaker 4: they die, that's up to them. They can do what 24 00:01:00,200 --> 00:01:02,360 Speaker 4: they want. But if you only inherit something, it's not 25 00:01:02,440 --> 00:01:05,320 Speaker 4: only after the person dies, So thunder that one. 26 00:01:05,600 --> 00:01:06,520 Speaker 1: I do agree. 27 00:01:06,760 --> 00:01:10,039 Speaker 5: We recently sold my mum's house winstercast and wee kids 28 00:01:10,080 --> 00:01:11,960 Speaker 5: a little bit, and then with the rest we bought 29 00:01:12,000 --> 00:01:14,360 Speaker 5: a new house instead of their childhood home and gave 30 00:01:14,440 --> 00:01:17,840 Speaker 5: them some more. I'd rather give them some now to 31 00:01:17,880 --> 00:01:19,680 Speaker 5: help them with their mortgages and they can get the 32 00:01:19,720 --> 00:01:20,200 Speaker 5: rest later. 33 00:01:20,959 --> 00:01:23,800 Speaker 1: Is talking about this great wealth transfer like it's a problem, 34 00:01:23,959 --> 00:01:26,240 Speaker 1: and I think it's a great thing. I want to 35 00:01:26,240 --> 00:01:28,760 Speaker 1: give the money to my kids now that the government 36 00:01:28,840 --> 00:01:31,880 Speaker 1: bought a taxi for us first, I'd rather give them 37 00:01:31,880 --> 00:01:33,759 Speaker 1: the home lines out of my prisons funds and things 38 00:01:33,800 --> 00:01:33,960 Speaker 1: like that. 39 00:01:35,480 --> 00:01:37,280 Speaker 3: Yeah, that's interesting. 40 00:01:38,280 --> 00:01:38,480 Speaker 1: To me. 41 00:01:38,560 --> 00:01:39,399 Speaker 3: Explain that to me. 42 00:01:39,560 --> 00:01:42,080 Speaker 6: Well, because the capital gains tax if you sell your house. 43 00:01:42,120 --> 00:01:44,680 Speaker 3: So you sell your house to do it, you sold. 44 00:01:44,440 --> 00:01:48,440 Speaker 6: Your your your your pile. Yeah, and you've got an 45 00:01:48,640 --> 00:01:50,640 Speaker 6: X amount of dollars for it. The government would come 46 00:01:50,680 --> 00:01:52,040 Speaker 6: calling for capital gains tax. 47 00:01:52,120 --> 00:01:54,280 Speaker 3: Yes, so he said, don't sell your house to do it, 48 00:01:54,360 --> 00:01:56,680 Speaker 3: and find other ways to help you fund life. 49 00:01:56,760 --> 00:01:58,320 Speaker 6: A little loan arrangement. 50 00:01:58,120 --> 00:02:00,680 Speaker 3: Maybe the lonely fans kind of something on the side. 51 00:02:01,120 --> 00:02:02,360 Speaker 4: I don't know how that comes into it. 52 00:02:02,640 --> 00:02:04,920 Speaker 3: Well, why are you talking about it with my accountant. 53 00:02:05,000 --> 00:02:06,280 Speaker 3: Let it go, okay. 54 00:02:06,640 --> 00:02:07,720 Speaker 2: There's something I should know. 55 00:02:07,960 --> 00:02:09,600 Speaker 3: No sames that no one's interested. 56 00:02:10,360 --> 00:02:12,320 Speaker 6: You'd probably do all right, you know, Oh. 57 00:02:12,200 --> 00:02:14,280 Speaker 3: Please, I'll show my elbows. That's all I'm doing. 58 00:02:15,800 --> 00:02:18,079 Speaker 2: There's probably some sort of kink for I no want 59 00:02:18,080 --> 00:02:19,560 Speaker 3: To know my house from my elbow, so I'm going 60 00:02:19,639 --> 00:02:20,120 Speaker 3: to be okay.