Welcome back to another episode of the 360 Money Matters Podcast!
In this episode, we explore the often-overlooked complexities of financial planning for blended families. We discuss real-world scenarios where poor communication and lack of planning led to emotional and financial turmoil, including disputes over inheritance, ownership of family homes, and complications arising from remarriages and superannuation nominations. Emphasizing the importance of open dialogue, legal clarity, and professional advice, we highlight how proactive estate planning—especially in blended family situations—can help avoid messy outcomes and preserve both wealth and relationships. We also touch on strategies such as structuring ownership correctly, setting binding nominations for super, and even gifting inheritances during one's lifetime to maximize their impact.
Tune in to learn how to safeguard your legacy and avoid common estate planning pitfalls in blended families.
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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of Akumin Financial Planning – AFSL 232706
Episode Highlights
Why financial planning is more complex in blended families
Common inheritance disputes and how to avoid them
The critical role of clear communication with all family members
Estate planning structures: wills, powers of attorney, and testamentary trusts
Ownership structures and their implications: joint tenants vs tenants in common
The impact of remarriage on superannuation nominations and estate assets
How tax considerations influence inheritance planning
Using life insurance for financial breathing room during grief
Planning for children from multiple relationships fairly
The benefits of gifting inheritance while alive for maximum impact
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