People make these avoidable estate planning mistakes all the time and it costs their loved ones dearly. It’s a sad but unavoidable fact: one day we are all going to die. You will most likely have clear ideas as to how you would like your hard-earned wealth – your ‘estate’ – to be divided amongst… Read more »
A family trust can serve a wide range of purposes and be extremely useful vehicles for tax planning, financial planning and investment. The Australia Institute examined ATO data and found that there are more than 800,000 trusts in Australia, with assets totalling more than $3 trillion. One of the reasons for the popularity is that… Read more »
Managing money in your 60s is all about getting your retirement ducks in a row and moving onto the next phase of your life. In your early 60s, retirement is likely within reach and it’s time to be thinking about it at a microlevel. Planning for retirement should focus on planning your finances for life… Read more »
Ensuring your parents’ finances are in order is a big part of taking care of them in their old age. It’s a funny thing when you realise that your parents are old. It makes you reflect on their lives and it’s probably when the responsibility of care shifts to you looking after them. We’re talking… Read more »
Have you been thinking about sorting your life admin but don’t know where to start? You know, all those things you never get around to, but can make your life function so much smoother and less stressful? Like organising your tax, sorting important documents, understanding superannuation and the list goes on… Here’s what you can… Read more »
The transfer of intergenerational wealth in Australia looms as a significant opportunity with around $3.5 trillion expected to be passed down over the next 20 years. While this equates to an average inheritance of about $320,000, around 25 per cent of inheriting Aussies will receive more than $600,000 each. Receiving a sudden large sum of… Read more »
If you live together and you split, your ex could file a legal claim for up to half your superannuation. Even if you’re not married. Moving in together is an exciting time for people in relationships. Likely the last thing on your mind is what might happen in the event of a breakup. But it’s… Read more »
I’d like to urge you – in the nicest possible way – to consider what will happen to your estate when you die. Yep, dead. Carked it. Fallen off the twig. I’m not being morbid or funny, but it is going to happen some time and often you don’t have any say in what happens… Read more »
Where there’s a will, there’s a relative… and a way to fight over it. That’s the unfortunate story of so many estates these days, where families fall out and even end up trading legal blows to settle the finances of a parent who has passed away. It’s not just the rich families squabbling either. However… Read more »
