The following is a case study of clients we helped transition into retirement by providing clarity around how their financial position could look in retirement, along with analysing options on how they could structure their assets for their retirement. Ultimately, this lead to eligibility to the Centrelink Age Pension and a reduction in estate taxes to any non dependent beneficiaries.
…that your adult kids might have to pay a lot of tax if you leave them your superannuation & insurance proceeds?
This can be a particular issue where you:
- Are splitting your assets amongst your children – for instance you leave the house to one child, and your super to another; and/or
- You have some children that are dependents and some that are not!