Client Success #2: Keeping the Family Home in the Family
Life cover established: $1.2 Million
We met a mum with one wish close to her heart: that all four of her children would be treated fairly, and that the family home would stay in the family. We took the time to understand what that would take for everyone involved. Together we put $1.2 million of life cover in place and worked alongside the family’s solicitor, giving them a clearer pathway to keeping the home.
Client Snapshot
- A mum with four adult children
- Co-owned a $2.4 million home with her daughter and son-in-law
- Around $400,000 in superannuation
Their Goals
- Share everything she owns evenly between her four children
- Keep the family home in the family
The Challenges
- Her daughter and son-in-law wouldn’t have the cash to buy out her half of the home
- They could have to sell their own assets, or the home itself
- A forced sale would disrupt their finances and leave the family uncertain
Our Strategy
- Identified the cash gap that would decide whether the home could be kept
- Established $1.2 million of life cover for Mum
- Premiums funded by her daughter and son-in-law, as co-owners
- Worked alongside the family’s solicitor on the estate documents
- Aligned the super, the will and the property ownership
- Set out a clear process for using the insurance proceeds
The Outcome
If she passes away, the payout is designed to let her daughter and son-in-law pay out the other siblings and keep the home, without selling their own assets. As with any policy, the insurer assesses the claim.
- Life cover established
- $1.2 Million
- Home value
- $2.4 Million
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