Weigh up the pros and cons...

SOME people believe it is their right to inherit property from their parents, while others are happy their parents are able to look after themselves financially and don’t expect anything to come to them when their parents die.

Life rights properties are ideal for this. You are able to pick up a property in a retirement estate at a lower price and, when you die, this property – at a sum far lower than market value – goes back to the developer, so the property cannot be inherited.

For many, inheriting property is one way in which to grow generational wealth.

Imagine not having to service a bond or pay monthly rent – how much more money this would give you to invest or grow.

Some of the men and women in the top 100 wealthiest people in the world inherited their money via real estate.

What should you do as you reach your golden years? It’s a tough question to answer and, ultimately, while it’s wonderful to help your children get a step up, there is no law that says you have to leave them anything.

So, make the decision that works best for you in your life.

Weigh up the pros and cons and, rest assured, no matter what you do, there will always be someone who’s not happy about it.

And, while we are on the subject, do ensure that your will is up to date.