What should you keep in mind when planning to spend a sizeable inheritance?
More than half of Australians don’t have a will,leaving their families in potential legal hell if they die suddenly.
The filmmaker and philanthropist is a third-generation flagbearer for one of Australia’s wealthiest families but happy to have charted his own course.
Losses from your share portfolio cannot be used by your estate to offset any profits from the sale of your stocks.
Rather than letting them spend it all at once,there’s ways to set up your will to drip feed a steady stream of income to your children.
Since Australia killed off death duties in the 1970s,inheritances have become a very efficient way of transferring and retaining family wealth - which may explain why we hear so little about bestowed riches.
The first in-depth study of wealth transfers and their effect on the economy finds $120 billion was transferred in gifts and inheritances in 2018. The money was mostly given to family and friends.
The biggest risk to elderly people is from those they trust. But when it’s hard for victims to acknowledge hurt by their loved ones,what chance do they have of support?
Okan Yesilhat claimed he had a clandestine 14-year relationship with a pharmacist to cash in on his $6m estate.
Samsung’s founding family will donate tens of thousands of rare artworks,including Picassos and Dalis,and give hundreds of millions of dollars to medical research to help them pay a massive inheritance tax following last year’s death of chairman Lee Kun-Hee.
What are we really missing when the house we grew up in is no more?