When drawing up a will,it’s worth considering the impact it will have on your partner’s pension.
Kim is one of the Australians benefitting from a trend dubbed the ‘great wealth transfer’,under which $3.5 trillion will change hands by 2050.
Dr Peter Alexakis allegedly visited the elderly patient 92 times in the months leading up to the execution of his will,which left him a $24 million fortune.
Estate planning goes beyond having a will and power of attorney. Often what is required is a detailed plan that considers the succession of each asset.
An intergenerational transfer of trillions of dollars is in motion in America – and just like in Succession,dynastic wealth is centre stage.
Death does not trigger capital gains tax,but it still may be advantageous to pass on your portfolio before your death.
With $3.5 trillion on the line,those in their 50s and beyond need to think about their legacy and how to transfer wealth effectively.
Any shares left to a tax-exempt body such as a registered charity are subject to capital gains tax based on their cost base and their value on the date of death.
Once a person becomes quite old,they could well decide they are better off taking their money out of superannuation tax-free while they are still able.
Receiving an inheritance can significantly change your pension eligibility.
Thanks to the business smarts of Elvis’s ex-wife Priscilla,his daughter Lisa Marie inherited a vast fortune. And yet it disappeared.