A significant proportion of us believe that an inheritance will be the key to our future financial security, but most families have not even discussed what is in the will, and 40 per cent do not have one at all, a recent survey shows.

cross-posted from: https://aussie.zone/post/33200422

A survey by a Perth law firm has found one-third of people aged 18 to 29 years old are “reliant on inheritance” for their financial future.

$5.4 trillion is expected to be passed on in the next 25 years.

One lawyer said it was important for families to plan their financial future early to stave off disputes.

This is probably very similar everywhere else in Australia.

  • sqgl@sh.itjust.worksEnglish
    4·
    21 days ago

    Before your parents even die you need not only a will but two more documents; Enduring Power of Attorney and Enduring Guardianship which are important if the person “loses capacity” for important decisions.

    Otherwise you risk the awful Public Trustee taking over your loved one’s life and their finances. The Public Guardian/Advocate will often force them into a nursing home to make way for the PT to plunder the assets.

    It can happen even if you have the above documents but a corrupt social worker or vexatious family member takes the matter to a tribunal.

    The tribunal is exempt from the rules of evidence and any conflict is often exploited by the Tribunal to transfer power to their unaccountable mates (public trustee/advocate/guardian).

    https://aptagie.com/