Transitioning Family Wealth

Originally Aired on Empowered with Elizabeth Naumovski

Featuring Julia Chung
December 6, 2023

Julia was on EmpoweredTV with Elizabeth Naumovski, talking about finances and children of all ages. The conversation raises a host of issues that need to be considered before making a financial gift to children. What kind of gift? (A house? A Business? Or just a Check?) What are the tax considerations?, How does this gift fit into your financial plan?, How will this gift impact them socially and emotionally?

But most importantly is the conversation about money. Talking to adult children about finances is daunting, but must happen. Surprising them might sound like a great idea but might have lasting consequences.

“Are you giving them something that they think will actual be a gift? You need to be able to have the right conversations with them, don’t assume.”

– Julia Chung

You can watch the full episode right here.

For other posts that feature Spring in the news, click here.