Article last updated 24 July 2025.
Having open and honest conversations with your children about money gives everyone involved a chance to discuss financial goals, budgeting and long-term plans. Encourage your child to share their perspective and aspirations, as well as set their expectations about what they might receive from you.
What is feather boosting?
Feather boosting is a term that encourages parents to provide meaningful financial support to their adult children, while also promoting independence and responsibility.
It’s different to feather bedding, which involves giving unlimited financial assistance without encouraging responsible money management and avoids discussions about spending money and being financial responsible.
Feather boosting strikes a balance between assistance and self-sufficiency, giving money to your children for a specific goal (towards a property deposit for example) rather than in one go after you die.
How to encourage financial literacy
To start, it’s important to set clear boundaries about the financial support your children can expect from you. Establish a timeline for reducing financial support gradually. You could introduce them to resources like personal finance books, online courses or workshops.
Let them know you’re there to support their efforts in building an emergency fund and managing debt. Be a safety net but not a reliable fallback for them and celebrate their achievements. They might find they can better navigate financial challenges and build resilience, safe in the knowledge you are there for support.
Navigating inheritance in blended families
Blended families can be more complex due to multiple sets of relationships and loyalties, which could include children from previous marriages. Inheritance challenges within blended families are often related to wills and estate planning.
For example, voided wills can occur if a parent remarries and doesn’t update this important document to accommodate their new family. Without proper communication and legal advice, important family members may be left out of inheritance planning unintentionally.
Consider if a trust is right for your family
You could set up a trust and appoint yourself as the trustee, so you retain control over how and when the funds are distributed to your children. A trust provides a structure where you can retain control over how the money is spent and when it is accessible to the beneficiary.
A trust is different to putting money into a Junior ISA for children or grandchildren, for instance, who will then be able to do what they want with the money when they turn 18. Ultimately, a trust allows parents to safeguard their wealth, while ensuring it benefits their children according to their wishes.
Financial literacy is a lifelong journey and it’s never too late – or early – to start. Rathbones runs financial awareness courses for people of all ages to help them develop the knowledge they need to be responsible with money.
We’re here to help you find ways that prepare your children for receiving an inheritance, as well as other issues related to managing your money. You might like to read our blogs on how to mitigate inheritance tax and the options for funding later life care. Please contact us if you’d like to speak to one of our financial planners.
