[Jan Fisher]

Recent finding from financial adviser analysts Adviser Ratings revealed that 14 per cent of Australians are planning to leave their children $1 million or more and 17 per cent said the plan to pass on $500,000 to $1 million.

The largest portion, 21 per cent, intend to transfer $200,000 to $500,000, while 16 per cent said $100,000 to $200,000, and 13 per cent plan for $50,000 to $100,000.

Which sounds great, but with great inheritances also inevitably comes great conflict.

A whitepaper from Foresters Financial predicts family disputes will be a ‘downside’ to arise from the boomer wealth transfer, which is expected to be more than $3.5 trillion.

“This growth will trigger extensive socio-economic change, especially as it relates to family dynamics, with unprecedented opportunities to resolve critical issues such as housing affordability, educational opportunities, and debt reduction,” the report stated.

“Enormous challenges arising from this wealth transfer are inevitable. Part of this will be due to the rising incidence of blended families and growing numbers of stepchildren. Even in traditional families, inheritance disputes are not uncommon.”

How much do you plan to leave to your children? Do you think these figures are realistic?

[allan j goodwin]

whatever is left

[soarer129]

I plan to live and enjoy what time i have left as my children would want me to not saying that we cant help them if needed I paid for my daughter solar panels and will be offering them to pay batteries that being said they will get whatever is left as i have bought my burial plot and my super currently returns over $50 k a year so i would imagine they will get some where in the vicinity of over a million in assets the cash is going into trust account and when my granddaughters the youngest reaches 40 yrs of age it will then be divided that way they work for a living and if they struggle then that be it

[Pizza]

Whatever is left, but not to the kids but rather to the grandkids!

[Lorraine Ann Cobcroft]

I am not planning on leaving my kids anything. They may well end up inheriting up to 2 million, depending on property values when I die and how much of my savings is left, but they will get whatever is left after my husband and I spend whatever we desire to spend living well and enjoying the proceeds of a lot of hard work and going without to save.
Children do not have any entitlement to their parents’ money, and there is no ‘kids’ inheritance’ while parents are still living. Inheritance is what is bequeathed in the will of a deceased person. The lazy, greedy turds who call parents ”selfish” for ”spending the kids’ inheritance” need to be educated that no living parent is spending anything other than their own savings and legally received income. There is no ”kids’ inheritance” for anyone to spend. It doesn’t exist until the parents are dead. And anyone who complains about an elder spending their money should be immediately cut from any and all wills and denied gifts or windfalls of any kind. I’m glad I taught my kids to work hard and not assume the right to anything they don’t earn for themselves. They are happy to see my husband and I enjoying life and would prefer that we spend whatever we need to in order to make the most of the years we have left.

[Taragosun]

It looks like we will have to fund our time in a nursing home given that we have made good business and life decisions to scrimp and save for our own retirement.
Therefore, whatever is left over will be what our children will inherit via our Wills.
We do not discuss our finances with our children although they can possibly guess what our wealth is in $.

[Author]

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