澳洲Australia property Would you prefer to receive a lower inher


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


Sorry about another question about gifting and wills, but meetings are occuring now in my family and i'd like to gather information asap please.

IF given a choice, would it be better to be gifted a $350 000 house now and start to invest from the rental returns immediately,

or would you rather inherit a 1.200 000 property in 10, or 15 years. that also has a potential for hugely greater rental returns as its apartments rather than a house.

and why.  

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Gee, you do seem to be preoccupied about what you are going to receive when one of your relatives passes on. If I was the relative updating my will, I don't think I'd pass anything onto you at all if I was aware of what you have been posting. You come across as someone who can't wait for them to go.:(  

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a bird in the hand is worth 2 in the bush.  

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Positioning yourself early so that you can benefit the greatest from someone's ultimate and final demise.

Insensitive, self absorbed, selfish and possibly just completely without emotion.

I wonder how the world gets to some of the depths of despair it's in....and then realise there are people like you in it.

Rooster  

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Why the obsession with gifting, inheritance and fretting you may miss out on what you obviously consider to be your fair share?

Get out there, work hard, save wisely and build your own assets without hanging around waiting for someone to die.
Marg  

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Thanks TErry this is one way of looking at it that has merit and we are considering seriously.
I think because there will be responsibilities on the one who receives it to take care of people with extra needs long term, there are also considerations of waiting longer for more income to support all well for decades, so we are still unsure which is best for everyone. Thank you for your expert advice.


Rooster and Skater why do you assume that people seeking information and options are waiting for a relative to die? Geez. Noone in our family is waiting for anyone to die.Some families actually have care and grace and chase up info and gather to discuss, for the good of all. We dont value slap dash wills regretted later.

If you had read my other post, I actually was the one who passed up huge lump sums that could have come to me over the years to assure this person was well taken care of despite that they were already on high incomes.

Should people never discuss wills, or life insurance, when families are gathering specifically for this purpose for the good of all. Why do you assume the worst in people, and put down others who seek info and choices to make the best result for all possible.  

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I guess it comes down to what you would do with the inheritance. Personally I don't anticiapte any inheritance for another 15-20 years. My that time I'll be retiring comfortabley or I won't. Receiving money now would make a small difference to my life, but I already have the resources to do well without my parents.

Personally I'd rather let them enjoy the fruits of their labour. If there's nothing left in 20 years then I won't be any worse off, but their assets could make their retirement much better.  

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I've commented a few times on related threads. I'll simply add what I said to my mother once when she was fretting about inheritences for my sister and I:

"Enjoy your money, do what you want and die broke. We can make our own way in the world".  

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VYBerlinaV8 said: ↑
"Enjoy your money, do what you want and die broke. We can make our own way in the world".Click to expand...
But everyone knows that money makes money. It is fine to lose money, but it's never a good idea to squander money.  

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Aaron_C said: ↑
But everyone knows that money makes money. It is fine to lose money, but it's never a good idea to squander money.Click to expand...
People know money makes money, but not many know how.

I have the opinion I posted because I don't think it's reasonable for people to support adult children, or to feel like they can't do the things they want because they need to leave it to their kids.  

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Its intersting how questions on inheritance bring out emotions and assumptions.

The person has plenty, thats why they themselves have discussed wanting to gift . We are discussing various scenarios .

Anyone care to give an opinion if they would like less earlier or much more later?  

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Perhaps it would help if you explained why it is even on offer that you get more earlier, how much, etc. It is rather unusual. Is it being offered, or is somebody asking for their share earlier.

Not enough information. People clearly are jumping to wrong conclusions.  

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wylie said: ↑
Perhaps it would help if you explained why it is even on offer that you get more earlier, how much, etc. It is rather unusual. Is it being offered, or is somebody asking for their share earlier.

Not enough information. People clearly are jumping to wrong conclusions.Click to expand...
Yep, otherwise people have to hypothetically theoeretically think about a (very senstivie situation that doesn't relate to them, but which is also a topic which does relate to them in a very personal way..

Only opinion I can put together is I'd rather not know until the will gets read out and what will be will be.  

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Jason,
Is your parent facing a terminal illness, or dementia?
Is all this really urgent?


I have no idea how my mother plans on disbursing any funds, not that has any amount of money.
There are 3 siblings. I have 3 kids, and my brothers each have 1.(& a great grandchild, and step grandson)
One brother takes most care of her, as they live in the same apt building.
Who should receive any leftover money?
Personally, I think my brother who has the day to day care of her...but other than that, it is still her decision.  

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jasonp3 said: ↑
Should people never discuss wills, or life insurance, when families are gathering specifically for this purpose for the good of all. Why do you assume the worst in people, and put down others who seek info and choices to make the best result for all possible.Click to expand...
some families discuss inheritance and some strictly don't.

my folks have discussed how they would like their stuff split up. they even asked me to take a look at their wills to ensure what they thought was in it, was (i did spot that my mum was a lesbian as her will was a copy of my dads but 'my wife' wasn't replaced with 'my husband'. lol). they suspect my sister will try to screw over my brother at any opportunity and asked that i try to make sure that doesn't happen. they've asked that i try to get my brother to spend the inheritance sensibly. i've agreed to try and do this, that is how families work.

but i've had absolutely no input into how they split it, nor should i. i find your obsession with how your relative splits up the estate macabre to say the least.  

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I think you are just confusing yourself asking all the same questions from slightly different perspectives.
We cannot tell you what you should do, except to encourage you to seek your own financial independence and not be reliant on an inheritance.
I dont think asking about the same thing 5 different ways will help to get you the answer you want. as wylie said, you've gone from a question about being treated unfairly in a will, with a parent who spends money as soon as they get it, to having a family who is good with money and all care deeply for each other....... it cant all be right. I think its time that you take the information you have and formulate your own ideas.  

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Assuming a net 5% annual rental return invested at the same rate, therefore compounded, the value of the $350k property will be worth $727k in 15 years.

So in 16 years time you will get an income fo $36k; whereas if the apartments aslo yield 5% net, you will get $60k in income in year 16.

If you have 30 years left ahead of you and you need the income to live on .....

The $350k property will need to grow 3.4 times to be worth $1.2m in 15 years.

Mind you a lot can change in 15 years, so as mentioned a bird in the hand may be worth two in the bush, the Apartment block may be sold to cover rest home expenses or may be willed to someone else or the church if Dementia sets in or you upset them enough.  

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RightValue said: ↑
Assuming a net 5% annual rental return invested at the same rate, therefore compounded, the value of the $350k property will be worth $727k in 15 years.

So in 16 years time you will get an income fo $36k; whereas if the apartments aslo yield 5% net, you will get $60k in income in year 16.

If you have 30 years left ahead of you and you need the income to live on .....

The $350k property will need to grow 3.4 times to be worth $1.2m in 15 years.

Mind you a lot can change in 15 years, so as mentioned a bird in the hand may be worth two in the bush, the Apartment block may be sold to cover rest home expenses or may be willed to someone else or the church if Dementia sets in or you upset them enough.Click to expand...
Factor in the possiblity of predeceasing too. What is Jason dies before the family member. Jason's kids may miss out altogether (or may take his place in the will).  

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Thank you Terry and Right value for practical information on the question asked. Noones children will be left out, quite the contrary, what has complicated all this is trying to also stick in the grandchildren to the mix with short term rather than long term solutions. It was simple before.

To clarify other assumptions, noone is asking for anything earlier. The discussions were raised by the person themselves who is looking at all sorts of interesting combinations of possibilities, not necesarily with any sound reason or business sense or working out numbers or having foresight to see the consequences of each idea. They are wanting family input so the end result is sound with the best outcome for all.  

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jasonp3 said: ↑
The discussions were raised by the person themselves who is looking at all sorts of interesting combinations of possibilities, not necesarily with any sound reason or business sense or working out numbers or having foresight to see the consequences of each idea. They are wanting family input so the end result is sound with the best outcome for all.Click to expand...

A dying family member wouldn't ask this. On your death bed, if you've ignored the subject of money your entire life, you don't decide to formally educate yourself to make a sound financial decision.


An editor giving instructions to a journalist to write an article would ask this, and frame it in such a brief.


You must think we are fools. Go fishing some place else.  

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