What to do with some unexpected extra money

Life is eventful and occasionally clients come into wealth suddenly, whether through inheritance, insurance, divorce or even a gift. Given circumstances surrounding such a large payment are often tragic, here at Perspective Financial Services we pride ourselves on providing tactful advice in delicate situations.

Although it may be unexpected, how do you make sure you make the most of it? And, when it comes to inheritance, how do you know if there are any special obligations or considerations that apply?

Common questions to consider

Some questions you may wish to consider include:

• What are my options?
• Do I have to pay tax on an item I inherit?
• I inherited a house and I want to sell it. Do I have to pay Capital Gains Tax?

How we can help

If you suddenly gain unexpected money or assets, including property, shares or even a valuable item, there may be financial implications. We can help you understand those implications and help you make the most of it. We’ll also ensure you’re aware of any tax implications of your decisions.

We can:

• Help you set goals and stick to a realistic timeframe.
• Identify your options in the event that you receive cash, and advise of tax considerations if the wealth is in the form of an asset.
• Recommend a selection of investment options.
• Advise you when you need to see an accountant or solicitor.

What to do next

Perspective Financial Services can help you make the most of a sudden influx of wealth. Contact us on Phone: 03 9826 3383.