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picastoc

28,581 Posts.

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28/08/18

14:38

Post #: 35237282
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Originally posted by stephenp ↑

Without knowing the details it is difficult to comment usefully but here goes.
First I would not be looking to set up a SMSF at age 75 anyway. Given the asset rich cash poor status the benefits would seem marginal.
Assets of $3M would be more than enough to see them out, assuming they are not tied up in their own home.
Seek a creative way of generating an income stream from the assets that keeps tax low and allows drawing a pension or part pension.
Seek advice from a trustworthy person if there are any around. Plenty of advisors would look at your parents as ripe for plucking.
Good luck

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Asset level to high for this couple to receive a Part Pension. As it should be......
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0 Great analysis

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