Debra Cleveland

Sydney

Smart Money editor, AFR. Mad swimmer, best meditation in the world. Big believer in smart money decisions giving you freedom and better choices.

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Articles

My brother won’t help Mum. Should she change her will?

Dec 13, 2023 | afr.com | Debra Cleveland

The best way to ensure the money spent is repaid upon the mother’s death is by setting up a loan agreement between the two of them, says Michael Crowe, national manager of estate planning at Equity Trustees. “On the mother’s death, the executor, when administering the estate, is required to repay any outstanding debts,” he adds.
Our son is demanding an early inheritance. Should we give it to him?

Nov 7, 2023 | afr.com | Debra Cleveland

If you can help out without borrowing funds yourself, you may wish to structure and document a loan agreement – even interest-free if you can afford it – for the child to repay it, Goodwin says. “It will provide good financial discipline for the child as well as show the other two children that you are not playing favourites, and it is a financial transaction,” she adds.
The secret to happy downsizing? Family connection

Sep 21, 2023 | afr.com | Debra Cleveland

It’s been a winner on many levels: more time together, a cheaper home plus (and this was a surprise win) easier access to live music and other arts events. “In Berry we’re a 20-minute drive to the beach and while my daughter used to go to the south coast for the weekend, now she comes to us,” my friend says. “A pool makes it a bigger drawcard.