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It is anticipated that $1,000,000,000 ($1 trillion!) will be passed on to the next generation of Australians by 2025, this number is projected to balloon to $3.5 trillion by 2035. It is a life altering event and one of life’s major financial crossroads, bringing new challenges and complexity as your lifestyle and wealth management goals change.


Managing Wealth Wisely

Inheritances can be both a blessing and a responsibility. When you receive an inheritance, it’s essential to understand its impact and make informed decisions on how to manage it. Here’s why:


Key Considerations

  1. Financial Windfall: An inheritance often represents a significant financial windfall. Whether it’s a lump sum of cash, real estate, or investments, it can dramatically alter your financial situation. The way you manage things like cashflow, entitlements and tax will change. Ensuring the appropriate strategies are put in place to most efficiently manage this is key to maximizing the windfall.
  2. Emotional Impact: Inheritances can evoke complex emotions. While it’s a reminder of a loved one’s passing, it can also provide a sense of security and opportunity. For those considering transferring wealth prior to their passing, family dynamics can be strained when inheritances are being arranged. Ensuring the correct structures and strategies are in place to manage a transfer of wealth is key to ensuring wealth is transferred the way it was intended to.
  3. Tax Implications: Inheritances come with tax obligations. Understanding the tax implications is crucial to avoid surprises come tax season.

Where to go?

A financial adviser will guide you on how to manage things responsibility and make informed decisions. It relives the stress associated with wanting to make the most of the gift of a loved one. This assistance can be invaluable at a time where you may still be processing the loss of a someone close to you.

Through a comprehensive plan an adviser can help you invest wisely, manage taxes and ensure long term financial stability through diversification to reduce risk and enhance returns. 

Inheritances are more than just money; they carry emotional weight and financial responsibility. Seek professional advice, make informed choices, and use the inheritance to create a lasting impact.


Momir Vuksa
SMSF Specialist Advisor™/ SSA®| BCom | BAppFin | Authorised Representative No. 1306168

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