Until recently, financial abuse was often kept secret, especially where it occurred within the family. Thankfully that’s changing with public awareness campaigns and help becoming more readily available. The emotional and economic damage caused by financial abuse can be far reaching and devastating. A recent Australian report calculates that in 2020 alone, financial abuse victims…
It can be tough when a loved one passes away, and while you’re busy grieving, you also need to think about settling their finances in line with their final wishes. This is where probate comes in. What is probate? Probate is the legal process that ensures that all the instructions set out in a will…
A good estate plan will help make sure your wishes are carried out when you die. It can also help if you become unable to make your own decisions. Estate plans An estate plan records what you want done with your assets after your death. It can include documents such as: your will a testamentary…
Remove the stress of funding aged care needs with advice on your options – nothing stays the same, and some fees just got higher. Two things happened on 1 October that have seen aged care costs increase for some people in residential care – the interest rate increased and so did the maximum daily means-tested…
Understanding how aged care accommodation payments work and getting advice on your options can help to avoid the panic of trying to find a large lump sum. If the prices for a room in residential care, have caused you alarm and led to concerns about how to find such large lump sums, you are not…
We plan ahead for many aspects of our lives, but few people plan for future aged care needs. Now is the time to change that trend. The truth is, most of us avoid thinking about our own future aged care needs, delaying our decisions until perhaps they’re taken out of our hands. Life expectancies are…
Beyond accumulating wealth over time, planning your financial legacy is one of the most important aspects of estate planning. With the greatest family wealth transfer set to occur in the next 20 to 30 years, investors should consider a few things when planning. Succession planning is common in the business world. Last week, the United…
Retirement village living and residential care are often seen as alternatives, but the fact is they are not true substitutes. The style of living, the services provided, and what the government will subsidise (and regulate) are different. Residential care combines accommodation and full-time daily living support. The costs are split between the resident and the…
Inheritance is an emotional subject on every level. The people leaving an inheritance generally do it with pride and love. The people receiving an inheritance often receive it with gratitude – and sorrow. But while emotional, it’s also a financial transfer that comes with a whole range of legal, financial planning and admin issues attached….
In the past, wealth was often passed on through inheritance. But with our longer lifespans, and the higher cost of living (especially housing), the desire to help our kids while we’re alive and well is increasing. If your children are young, you may have twenty or thirty years to save and invest on their behalf,…