For many older adults, the instinct to help a struggling child never goes away, no matter how old that child is. Whether your adult son just lost his job or your daughter is drowning in medical debt, the urge to step in with financial support can feel automatic. But what if that act of love jeopardizes your own financial future?
If you’re receiving or expect to apply for government benefits like Medicaid or Supplemental Security Income (SSI), giving money to your adult children could put those benefits at risk. Many seniors don’t realize that seemingly minor financial decisions, like paying a child’s rent or co-signing a loan, can trigger penalties, disqualification, or reduced eligibility.
