Inheritance, Redundancy, Property Sale
Inheritance And Lump Sum Advice: One Decision, Made Properly.
A lump sum is when the salesmen arrive. A large amount of money landing at once is exactly when one-off advice makes sense: one decision, made properly. It is also when a percentage fee costs you the most. I tell you what to do with it for a fixed fee and take none of it.
$330, credited against your advice fee. If you do not need advice, I will tell you.
Four consultations a week.
First, Do Nothing
There is rarely a deadline on investing it. Put the money somewhere safe that pays interest, and take a breath. Anyone hurrying you has a reason to.
What The Advice Answers
- How much to put into super, and how to do it within the contribution caps
- What to invest outside super, and in whose name
- How much to keep in cash
- The tax on a redundancy payout or an inherited asset, and when you need an accountant
- What it means for the Age Pension, if you are close to it
What A Percentage Fee Costs On A Lump Sum
| Comparison | Adviser At 1% A Year | One-Off Advice |
|---|---|---|
| On $500,000, each year | About $5,000 | $0 |
| Over ten years | About $50,000 | From $6,600, once |
| Who holds the money | Usually a platform | You, in your own name |
Illustration only, on a level balance. Platform and fund fees are extra.
Inherited Super And Shares
Inherited super, shares and property each have their own tax rules, and some choices cannot be undone. Get advice before you sell or transfer anything, not after.
What should I do with an inheritance?
Park it in cash, work out what you owe and what you want, then make one considered decision. For most people the answer is some mix of super and low-cost investments. The mix is the advice.
Should I put a lump sum into super?
Often, but there are caps on how much and rules on access. Getting this wrong can mean extra tax or money locked away longer than you wanted.
Do I pay tax on an inheritance?
There is no inheritance tax in Australia, but tax can apply when you later sell inherited assets, and on some super death benefits. I flag what applies and send you to an accountant where needed.
I have been made redundant. What now?
Understand the tax on the payout first, then decide how long it needs to last and whether some belongs in super. A single piece of advice usually sorts it.
Do I need ongoing advice for a large sum?
No. A large sum needs a good decision, not an annual fee.
General advice only. It does not take your objectives, financial situation or needs into account. Consider whether it is appropriate for you before acting on it.
Book A Consultation
If you do not need advice, you find out for $330, not $6,600.
- 45 minutes with the adviser himself, not a junior
- A fixed quote on the call, if advice is warranted
- The $330 is credited in full if you proceed
Why $330 and not free? A free first meeting is usually paid for later, through ongoing fees. I would rather you paid once for my time and owed me nothing.
Pay $330 now. A consultation, not an advice session. Reschedule up to 48 hours before.