Six inheritance strategies to make your children richer
Bequests and gifts are a potential legal minefield, not to mention tax implications and family fallouts. These strategies will help you get succession right.
Baby Boomers planning to give an estimated $3.5 trillion in cash and other assets to future generations are facing closer scrutiny by courts and tax authorities in addition to having to deal with more complex family structures and finances.
Longer lives and record wealth means the nation’s richest generation in history will be passing on an estimated $224 billion a year in inheritances by 2050, the Productivity Commission says.
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