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In this month’s newsletter, we look at the scary prospect of inheriting debt when a relative or loved one passes away. And if you or someone you know are facing redundancy at work, we examine how any payments you receive on your way out might be treated come tax time.
Next, we look at how Australians can make the most of their super depending on which stage of life they’re in. And for all its scary connotations, death and TPD insurance can be a necessity if you work in certain fields, and it’s worth getting familiar with it. Finally, financial educator Vanessa Stoykov shares some of the ways you can broach the difficult topics of inheritances and aged care with your parents.
Enjoy the edition.
If a relative or loved one dies owing money, does it fall on their next of kin to cover any unpaid debts? The answer might be more complicated than you first thought.
A redundancy payment can help lessen the sting of losing your job. These payments can sometimes be quite generous, so questions around tax are bound to come up.
Take it seriously and your super will likely end up among the most important financial assets you own. Here are a few goals to keep in mind if you’re looking to boost your super, no matter your age.
You won’t be blamed for avoiding thinking about death and total and permanent disability (TPD) insurance. But depending on your occupation you might be doing yourself a disservice.
It can be challenging to talk about money across generations. But starting those conversations with your parents can be crucial, especially when there are inheritances involved.
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