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What will happen to your wealth when you die?

Discussion in 'General Property Chat' started by Cbrgirl, 18th Apr, 2016.

?

Who do you plan on leaving MOST of your wealth to when you die?

  1. My child or children (in equal amounts each)

    20 vote(s)
    34.5%
  2. My children ( in different amounts)

    3 vote(s)
    5.2%
  3. My spouse or de-facto

    21 vote(s)
    36.2%
  4. Other relatives

    0 vote(s)
    0.0%
  5. Friends

    0 vote(s)
    0.0%
  6. Charities

    1 vote(s)
    1.7%
  7. I plan on spending it all before I die

    7 vote(s)
    12.1%
  8. My pet

    3 vote(s)
    5.2%
  9. Other

    3 vote(s)
    5.2%
  1. Cbrgirl

    Cbrgirl Well-Known Member

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    I'm interested in what other people plan on doing with their money when they leave this earth.

    And if you have children, would you leave them money in equal amounts or different amounts?

    Who will most of your money go to? I have put 'most' as I plan on giving a bit to charity and a bit to family/friends, but who do you plan on giving the greatest proportion of your estate/assets/money to and why?
     
    Last edited: 18th Apr, 2016
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    What about 'spouse and children' and 'testamentary trust'
     
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  3. Big Will

    Big Will Well-Known Member

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    Wife (all), Children (equal), if no child then children's children (not there for a long time but equal also) and so on if no bloodline down then to our parents (if they are alive), siblings (50/50 then equal) and down their bloodline otherwise closest family.
     
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  4. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Enjoy the wealth :)
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    Similar but I have seen plenty of instances where one partner passes, the other gets remarried & kids get nothing (as they're adults & not dependents).

    This needs thorough estate planning.
     
  6. MTR

    MTR Well-Known Member Premium Member

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    Perth, Melbourne, USA
    Split 50/50% my 2 dogs.:)
     
  7. Casteller

    Casteller Well-Known Member

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    Barcelona
    Children, but you forgot the obvious one.. "The Government", which although tricky to plan for is a possibility in the future and a reality for some people already. E.g. a UK domiciled person living in Australia would pay about 650K inheritance tax on a 2 million pound estate. Rumblings about reintroducing it in Australia for the very rich to start with.
     
  8. jins13

    jins13 Well-Known Member

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    Atm I do not have any children, so in heriarchy- it will be my parents (unless I have a partner which by default it will go to her first). If I was single at the time of my demise and my parents are not around, guess it will go to my brother and his wife.

    I hope that I have enough brownie points to satisfy the big man upstairs.
     
  9. datto

    datto Well-Known Member

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    A bronze statue to be erected at the entrance of the Bidwill Shopping Centre Carpark.
     
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  10. Xenia

    Xenia Adelaide Property Manager Business Member

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    Kids hopefully to carry on the businesses.
     
  11. Jerry O

    Jerry O Well-Known Member Premium Member

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    NSW / Melbourne
    children i voted...

    im gonna try to make sure my future kids are educated enough to know how to handle their finances properly.
     
  12. Dan Donoghue

    Dan Donoghue Well-Known Member

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    I have no kids and I don't think I ever will. All mine will go to the wife, if she goes first I will make sure it's mostly spent, any remainder will go to nieces and nephews.
     
  13. bobbyj

    bobbyj Well-Known Member

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    Sydney
    To my dog. They can have a butler on call. Professional petter. Diamond encrusted dog bowl etc.
     
  14. Tony3008

    Tony3008 Well-Known Member

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    Location:
    Docklands, Victoria
    Single, no kids. Close friends will get $5K each, residue split equally between family (siblings, nephews and nieces) and charity.
     
  15. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    First my spouse, if I pre-decease her, then my kids in equal amounts and after that my grand kids via Testamentary Trust/s.
     
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  16. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Didn't see - Not going to die, as an option?
     
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  17. Ed Barton

    Ed Barton Well-Known Member

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    Don't care much. But since I don't want the govt (PT) getting their hands on the loot...
    Parents, then sister and a bit for brother, then niece.
     
  18. sanj

    sanj Well-Known Member

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    Perth
    atm would be grandma, an aunt and cousin, a couple of close friends who the money would make a difference to a small amount to folks and brother as they don't really need the money and balance to a couple of targeted recipients. in my family we don't really care too much about inheritance, fully support the idea of any of us spreading it around to whoever we feel is worthy and balance going to the rest of us.

    in the future will be wife, kids and the above.
     
  19. Chilliblue

    Chilliblue Well-Known Member

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    And how long would that last with metal prices.

    Better to arrange to have a memorial plaque on your favourite pokie.
     
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  20. D.T.

    D.T. Adelaide Property Manager Business Member

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    Going to live forever, or die trying?
     
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