But you cant just give it away and then claim. They know what you've got and already, long ago, read that sorta play.
Play it and you will be deemed to still "hold" those assets for the next 5 years, I think it is. So pure benevolence if you do!
So at about 60, at the latest.
I think sensible people will have built up some "resilience" over their lives where they kept some assets out of the "system", foregone the profit on same, over time, for the security of simple existence.
Some cash, small accumulations of bullion, small "top" diamonds, "artwork", all can become a small, liquid means of ensuring
you and your family aren't bled dry before you appear to be so, and if you offit sooner than that, then the cash is for your cheap, quick disposal, and good luck to them for the rest of it.
P.s. A complete aside. Superannuation. If left to individual beneficiaries, ie kids, 2, 50% each, then it becomes taxable!??
It is suggested better to leave to yourself, ie your "estate", as it is then added to your total distribution as indicated in your will.
Thus not taxed.
Not gospel, but maybe someone has sniffed this, potentially critical, clue stronger than me.
GLTA.
