Inheriting Prosperity: A 64 Year Old's Taxing Decision The recent surge in inheritances has introduced new complexities into financial planning, particularly for individuals who have never managed large sums before.
For a 64 year old woman, inheriting $700,000 raises pressing questions about what to do with it. The answer lies not just in the numbers but also in understanding tax laws and superannuation rules.
The inheritance's timing is significant because it coincides with her plan to reduce working hours within the next 12 months.