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Louise Biti

Tread carefully before giving adult children financial help

Short-term loans or gifts to help out offspring could land older parents in hot water.

Parents generally hope that once their children become adults and are out in the world, their financial responsibilities are done.

Parents could find themselves unable to apply for leniency on fees under financial hardship concessions if they find themselves short. 

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Louise Biti is director of Aged Care Steps.

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    Original URL: https://www.afr.com/wealth/personal-finance/tread-carefully-before-asking-older-parents-for-financial-help-20200424-p54n2k