Who will you leave it all to?
- Thread starter Terry_w
- Start date
Not leaving it to anyone as our family already have plenty, gonna spend the whole lot!
Now where's that like button!
Like Ellejay, if I don't spend it all before I go then my half of my husband and my asset base will be going to charity. A small portion to a cancer research charity and the majority to dog charities.
I love you Kesse, dog charities for me too but we'll work hard on spending it on ourselves first.
Trying to build up an empire for the kids and their kids etc as this is what my parents and their parents did. Would be pretty bad if I just spent it all after being given a good start myself.
Sorry to hear Balwoges.
can you please tell us the sorts of problems holding this commercial property would make?
I will be mummified and entombed in an IP like some Egyptian pharaoh (don't know which one yet). There will be secret passageways fraught with danger ( and my portrait). I will lay in a secret compartment ornated with bogan chattels...flannelette shirts and ugg boots to keep me warm in the after life. I will be found behind the wheel of a VT commodore with some illegal substances under the front seat and a glove box full of unpaid traffic infringement notices.
After my demise
- Paper trail - Where are the Deeds? its a multi tenanted property, who are the tenants, where are their contact details, where are the leases, are the tenants up to date with their rent, what accounts are unpaid. What was the Valuation of the Property at the time of my husband's death and where is it? Who was my accountant, and where are the bank statements, etc etc.They know where the deeds are, who I bank with and my accountant and I have showed my reluctant son the accounting program I use to keep track of the business and explained to them about Capital Gains Tax, but ...
I wont even go into my experience with the ATO
I wonder how many forum members with IP's have made arrangements re Estate Planning.
We are going to leave the majority of ours to the kids with some going to nieces and nephews
The proviso in ours is that they can't touch it until they are 30. This is to prevent them being slackers/trust fund babies
They will have to find their own way in the world until then.
Of course if we are still alive when they are 30 which is highly likely then they still have to find their own way.
The proviso in ours is that they can't touch it until they are 30. This is to prevent them being slackers/trust fund babies
They will have to find their own way in the world until then.
Of course if we are still alive when they are 30 which is highly likely then they still have to find their own way.
