In today's show, Ken Raiss and I discuss the intricacies of wealth building and legacy planning.

 

We explore the importance of careful planning to avoid common pitfalls, the role of trusts in estate planning, and the implications of superannuation on wealth transfer.

 

The conversation also covers strategies for gifting wealth, the benefits of investment bonds, and the significance of philanthropy.

 

Finally, we provide actionable steps for individuals looking to start their legacy planning journey.

 

Takeaways 

·         Wealth building requires careful planning to avoid losses.

·         Timing is crucial in wealth transfer strategies.

·         Trusts can provide flexibility and tax advantages in estate planning.

·         Superannuation can complicate wealth transfer if not managed properly.

·         Gifting wealth during one's lifetime can have tax implications.

·         Investment bonds can be a tax-effective way to pass on wealth.

·         Philanthropy should be approached with specificity to ensure impact.

·         Legacy planning should start early, considering values and timing.

·         Consulting with financial experts can simplify complex decisions.

·         It's essential to communicate intentions clearly to avoid family disputes.

 

 

Chapters 

00:00 Building a Legacy: The Importance of Planning

04:30 Wealth Transfer Strategies

09:42 Gifting Wealth During Lifetime

12:16 Superannuation: Friend or Foe?

17:15 Real Estate and Capital Gains Tax

 

Links and Resources:

 

Answer this week's trivia question here- www.PropertyTrivia.com.au

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Michael Yardney

 

Get the team at Metropole Wealth Advisory create a Strategic Wealth plan for your needs Click here and have a chat with us 

 

Ken Raiss, Director of Metropole Wealth Advisory

 

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