If you plan on leaving an inheritance, talk about it early. Here's why

Talking about inheritances is still considered taboo in a lot of families. Most people don’t like talking about money at all, even with close friends, but avoiding the conversation can actually make things harder for the people you care about.
You don’t need to disclose exact dollar amounts, but having general conversations about future support can give your children clarity. For some families, knowing there may be an inheritance down the track helps them make choices today, like taking a holiday or reducing pressure on their current savings. Even a conservative understanding of what the future might look like can genuinely change lives.
If you do plan on leaving an inheritance, the most important thing is to ensure the person receiving it has the financial education to manage it well. Without that, wealth can disappear quickly. With the right guidance, it can be invested, protected and grown for the next generation and beyond.
Talking openly and preparing the recipient is just as important as leaving the assets themselves.

----------------------------------------------------------------

More Freebies you should check out

Ebooks, Online Courses, Video Blogs, Podcasts | Free resources covering a range of financial fundamentals to build your knowledge*

https://www.consortiumpw.com.au/elearning/

*Follow us on our social media *

Website: https://www.consortiumpw.com.au/
Instagram: https://www.instagram.com/consortiumprivatewealth/
Facebook Page: https://www.facebook.com/consortiumpw
TikTok: https://www.tiktok.com/@rob_goudie

To contact us directly please email info@consortiumpw.com.au or call 03 5382 3460. We're here to help!

Advice Disclaimer || Any advice given by the presenter/s has been prepared without considering your individual objectives, financial situation or needs. So, before you act on the advice you should think about whether the advice suits your objectives, financial situation or needs. If the advice relates to acquiring a financial product you should obtain a copy of the Product Disclosure Statement for that product and consider it before making a decision. This presentation has been prepared by Consortium Private Wealth Pty Ltd (ABN 74 616 250 965) (AFSL 495401). If you require advice which takes into account your objectives, financial situation and needs you should speak to a financial adviser.

Robert Goudie (ASIC Reg 235974), Ashley Rowan (ASIC Reg 433899), Olivia Glare (ASIC Reg 1262290), Rachael Todman (ASIC Reg 1270413) & Amy Lehmann (ASIC Reg 1292710) are Authorised Representatives of Consortium Private Wealth Pty Ltd ABN 74 616 250 965 AFS Licence 495401.