Posted in Estate planning

In a world of constant financial noise, from market updates and interest rate speculation to economic forecasts, it’s easy to feel overwhelmed and choose to do nothing. But inaction can be costly when it comes to building long-term wealth. Whether it’s leaving money in cash, delaying investment decisions or ignoring the power of regular contributions, the financial consequences of sitting still can quietly erode your future goals. Small, consistent actions can make a significant...

SMSFs - Keeping it in the Family Self managed super funds (SMSFs) can offer their members many benefits, but one that is often overlooked is their potential as a multigenerational wealth creation and transfer vehicle. Family SMSFs are relatively rare. According to the most recent ATO statistics (2022-23), the majority of SMSFs (93.2 per cent) have only one or two members.i Just 6.6 per cent have three or four members and only 0.3 per cent have five or six members (the maximum allo...

Your SMSF - Wind it up or pass it on? Now that new legislation allows a maximum of six members in an SMSF, some fund trustees may be wondering if this could be an easy way to ensure a smooth transfer of their super to the next generation. The simple answer is yes, but before you start adding your children and their spouses to your fund, it’s essential to develop a detailed SMSF succession plan to head off any potential problems.
  Why make a SMSF succession plan? Most...