Estate planning often brings a degree of uncertainty, particularly concerning the financial legacy left behind. When clients first approach us, many express concerns about the tax burdens their heirs might face when inheriting assets. This worry, stemming from genuine care, often arises from misconceptions about estate taxes. It is commonly believed that death inevitably results…
According to the Prime Minister, the changes to Stage 3 Tax laws will provide a tax cut for everyone. Commencing 1 July, you’ll have money you’ve never had before and the question is: How will you use the extra cash? Will you spend it on living expenses or something a bit more fun, pay down…
The start of a new year usually heralds change. For some family leaders, changes in relationships and a range of external influences affecting family members have them concerned about potential impacts on family wealth.
According to a recent survey conducted by *Netwealth, wealthy Australians like to plan. Typically, they are highly educated, highly paid professionals or senior managers and while they are aged from 45 years, on average they are 60 years old. They proactively engage in their financial affairs and a very strong 64% consider themselves financially resilient.
There’s been a lot of talk about the intergenerational wealth transfer as Australians, mostly Baby Boomers, retire over the next 20 years leaving significant financial legacies to their X and Y Gen offspring.
We know talking about money with your parents can be difficult. Sensitive and upsetting at best and for some families – taboo. However, it’s among the most important discussions you’ll ever have with them and here we identify THREE conversation starters that may help you to get them talking.
It’s not always easy to talk to the next generation about the responsibilities of money. Nor is it easy to explain the value of qualified advice to a cohort that is accustomed to relying on online information.
According to the Intergenerational Report released earlier this year, $3.5 trillion will transfer from Baby Boomers to younger Australians in the next 20 years. That being so, it’s more important than ever to understand your wealth and how you want it to be managed once you’ve passed away.
To engage Stratus Financial Group means partnering with people who are fully committed to helping you live your best life. It means working with team members who realise that what you really want from your financial adviser, in addition to advice and the coordination of your financial resources, is a sincere understanding of what is…
Many would agree that the impacts of COVID-19 remind us of what is most important in our lives: family, friends, the opportunity to work and the freedom to travel. And while it is understandable that the impact of the pandemic on your financial situation is preoccupying your thoughts at this moment, we encourage you to…