elder abuse and the growing problem of early inheritance syndrome

Elder Abuse and the growing problem of Early Inheritance Syndrome

elder abuse and the growing problem of early inheritance syndrome

Approximately 10 per cent of older Australians are victims of financial or psychological abuse each year, typically from family and friends pressuring them to provide financially for others.

Many elderly parents do not report their concerns, out of a sense of family loyalty, or feelings of guilt, shame or embarrassment.

As we get older, we tend to be more trusting – particularly of those we have known for a long time.

guarding against elder abuse

Guarding against Elder Abuse

Guarding against Elder Abuse

The newsfeeds are full of horrific stories about residents in nursing homes being mistreated, ignored, threatened, assaulted and abused.

Another Royal Commission is taking evidence around Australia. Between 6 per cent and 20% of elderly Australians are abused by someone they trust according to recent research.

That won’t happen in my family

Are you sure about that? Even wealthy celebrities are not immune against elder financial abuse.

is inheritance tax coming to australia

Is Inheritance Tax coming to Australia?

is inheritance tax coming to australia

The last time Australia had a federal Labor Government, they commissioned a review of Australia’s tax system, and an inheritance tax was one of the key recommendations.

On 15 October 2009 the most senior tax-policy advisor to the Australian Federal Government, Dr Ken Henry (Chair – Australia’s Future Tax System Review Panel and Secretary to the Treasury) gave an Address to the Committee for Economic Development of Australia.

In that address he identified 6 areas of future opportunities and challenges governments will need to address in respect to taxation. At the very top of his list was: “the ageing of the population, posing challenges for the financing of retirement incomes and of increasing health and aged care needs”.

Family Disputes and Legal Documents in SA

Family Disputes and Legal Documents in SA

Family Disputes and Legal Documents

Families aren’t always easy. We’re bound to them by blood and history, circumstance and duty. We love them, and sometimes, if we’re really lucky, we like them too. We rarely get to choose them.

At some point in our lives almost all of us will experience some challenging times in dealing with individuals in our family.

It could be the consequences of dealing with misfortune such as illness or unemployment.

It could be your son’s unfortunate choice of girlfriend.

Maybe someone has an inflated sense of entitlement & expectation, or is lacking in appreciation for what you’ve done for them.

What are digital assets

Estate Planning must include Digital Assets

What are digital assetsHow many things in your life do you manage or store on your computer, tablet, smartphone or online? Like many people today you probably access photos, videos, music, e-books, blogs, movies, emails, conversations, social media, games, bank accounts, medical records, and even your identity – all online. All of these are called “digital assets” and they may be of financial or sentimental value to you and your family. They can be just as precious and important as physical assets that you can touch. They should be part of your general planning for what happens when you die or if at any time you are unable to manage your own affairs.

Why are Digital Assets important?

Within just a few years, digital assets have become important in many areas of our lives. We must plan for what happens to our digital assets on death or when we lose mental capacity, for a number of reasons:

Financial Value; such as PayPal accounts, virtual bank accounts, online gaming accounts; bitcoin; photographs; popular domain names or online businesses;

Starving Last in the Jungle | Genders and Partners | 7 Asset Protection Techniques

Protect your wealth – it’s a jungle out there

The benefits of Asset Protection and Planning

Starving Last in the Jungle | Genders and Partners | 7 Asset Protection Techniques

How many million-dollar lawsuits against homeless people do you hear about? None. That’s because lawsuits aren’t filed against poor people; they are filed against those with enough assets to make the expense of litigation worthwhile.

We all need to maintain an acute awareness of what can happen in ‘the modern jungle.’ None of us want bad things to happen to us and our families, such as bankruptcy, creditors, predators, gold-diggers, the ATO… but we need to keep our guard up against others who may not share our foundational assumptions of fair play and justice. Other, perhaps more aggressive ideologies, could run right over our sweet & trusting natures if we let them.

‘Asset Protection’ is about being prepared for possible outcomes (contingencies) and doing what you can to minimise the damage and prevent the worst outcome from happening.