Later Life Downsizing: Securing Your Parents’ Financial Future

The Risks of Downsizing: Loss of Wealth


Downsizing later in life can lead to a significant transfer of wealth—often to parties outside of the family. This scenario is all too common in cities like Sydney, where homeowners in their eighties may still reside in the family home, often widowed and struggling with upkeep. Adult children, busy with their own careers and families, may find the prospect of selling the family home daunting. Relocating an elderly parent is a challenging task that often encounters resistance.

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