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Inheritance

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Lawyers have warned that DIY will kits may present expensive problems.

The missing signature on a will that cost a family $10,000

It was an oversight that proved costly in court. Legal experts have warned that some will kits “do more harm than good”.

  • Michaela Whitbourn

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If you intend to join the SKI club, make sure you’ve planned for later in life.

Joining the ‘SKI club’: Are you spending the kids’ inheritance wisely?

Many older Australians are wrestling with the right financial options for the last quarter of their life, but some key considerations are being ignored.

  • Grace Bacon
Gifting children significant amounts of money can have unintended tax consequences.

We gifted our 15-year-old grandkids $100,000. Will they have to pay tax?

Minors can face extremely punitive taxation rates, but it depends on how they earn the money.

  • Noel Whittaker
AI-powered will-writing services have been around since 2018, but have become more prolific since the launch of ChatGPT.

Why you shouldn’t let ChatGPT handle your inheritance

Despite what you think DIY or AI-powered will services might have, estate planning is not one-size-fits-all.

  • Suzie Willis
A woman who claims to be the daughter of a Sydney man who died in 2020 is seeking a share of his multimillion-dollar estate in the NSW Supreme Court.

The Sydney man, a surprise daughter and the $12 million estate

A Sydney man was survived by his four children from his 58-year marriage. Then another woman emerged.

  • Michaela Whitbourn
With each child getting 25 per cent of the sale proceeds, this will leave the daughter an inheritance of only $50,250 after she pays the tax.

Not just the Murdochs: How to stop ‘destructive’ inheritance battles

Even if you don’t have a complicated family trust, getting clear guidelines in place can prevent costly legal fees from sapping your inheritance.

  • Noel Whittaker
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Vancouver Canucks owners (from left) Paolo, Francesco and Roberto Aquilini.

Ice hockey billionaires sued by family member in feud over fortune

The sprawling empire of the Aquilini family includes Vancouver’s professional hockey team. But an ugly legal brawl is tearing the clan apart.

  • Thomas Seal
Not knowing what your share of the inheritance will be can make planning for retirement difficult.

My father’s will requires me to pay my siblings $150k. How will that affect my pension?

Inheritance held on the behalf of others could potentially lessen your pension entitlements, but there are ways to mitigate that.

  • Noel Whittaker
A worker collects a sample of paint for quality control at the Nippon Paint plant in Qingyuan,China.

Tycoon’s fortune makes six grandchildren billionaires

The handover of the inheritance marks an unusual transfer of assets for an ultrarich Asian family that has skipped one generation.

  • Filipe Pacheco and Pui Gwen Yeung
The problem is not that young people pay too much income tax, but that wealthy Australians pay very little – or none at all.

If we’re focused on fairness, it’s not the rich we should be worrying about

The problem is not necessarily that young people pay too much tax, but that there are some Australians who pay little to none.

  • Millie Muroi

Original URL: https://www.smh.com.au/topic/inheritance-hp7