Today
You’re richer than you know: inside the inheritocracy
Chanticleer columnist James Thomson and Wealth reporter Lucy Dean on the surge in inherited wealth and how it’s changing what we think about business, money – and love.
June
A chicken sexer’s $13.6m iPhone will failed. Here’s why
Colin Peek left his assets to a friend in a phone note ending with “no one else gets a thing”. A judge rejected it, but for a surprising reason.
Billionaire Telegram founder to leave fortune to his 100 children
Controversial chief executive and avid sperm donor Pavel Durov has just written his will that provides $US170 million to each of his offspring.
Just one stock made me a member of the inheritocracy
The surge in Commonwealth Bank shares since they listed has given me a huge financial problem, but it is one I am very happy to have.
I found love (again) at 57. Here’s how I protected my finances
“Mama bear mode” helped Amanda Tomsic protect her finances when she re-partnered later in life. Here are seven other steps you can take.
May
You’re probably part of Australia’s new inheritocracy
A quarter of the Rich List derived their wealth from inheritance, reflecting a wider shift as Australians start to transfer a staggering $5.4 trillion to the next generation.
The disturbing things I learnt when my name appeared on the Rich List
When future Rich Lists are populated by beneficiaries rather than entrepreneurs, wealth inequality risks becoming a cancer on our egalitarian ethos.
How to make the most of a once-in-a-lifetime inheritance windfall
Involving a financial adviser in the tricky conversations around family finances can be a way to make sure everyone has an opportunity to build wealth equally.
Do these 4 things if your kids can’t (or won’t) take over the business
Joe Rinaldi poured his heart and soul into building a profitable car dealership. Then came the realisation he had no successor.
The family trust blunder that could send you bankrupt
The tax office is scrutinising family trust distributions dating back decades. Some trustees have been shocked to receive bills worth hundreds of millions of dollars.
April
How to avoid a succession fight like the Cue fashion family’s
The legal principle of promissory estoppel is tripping up founders who have made promises but not put them in writing.
The $24m inheritance that was almost split 10 ways
Sydney artist Mimi Jaksic Berger, businessman Andrew Findlay and Queenslander Raveica Negrean all died with “homemade” wills. That’s a problem.
‘Feels like the commissioner is sitting at the kitchen table’
What was once a relatively simple formula has become a maze of complex decisions with potentially severe tax consequences.
How can I add a downsizer contribution and inheritance to super?
There is the potential to contribute a combined $1.32 million to your super fund and that of your spouse.
Don’t repeat this estate planning mistake by Robert Holmes a Court
Australia’s first billionaire died of a heart attack in 1990 at the age of 53. The problem was he didn’t leave a valid will.
The average sum Australians will inherit and what to do with it
Inheritances can be life-changing – so long as the money is spent wisely. Here are four options.
What a beach house and dog called Trouble teach us about succession
Estate planning is where wealth collides with family politics, and nowhere does that hit harder than with lifestyle assets.
March
How super funds treat your money when you die is shameful
What we have is a returns-focused industry that makes it very easy to put money in, but much harder for your next of kin to get it out.
How three siblings increased their inheritance by $278,000
Renovating may be a lucrative option if you’ve inherited an outdated property with dowdy features.
Baby boomers are adding to the ‘inheritocracy’. And that’s a problem
Inheriting is becoming nearly as important as working. That is dangerous for capitalism and society.