Transmit Your Wealth

Many people are considering how they can support their children, grandchildren or other loved ones to buy property. The sad reality is that, with some of the highest property prices in the world, many younger Australians need that help to get a foot on the property ladder.

While the concept of helping sounds wonderful, this is an area fraught with traps for the unwary. There is no easy way to get this right. We identify many of those traps here [link to Bank of Mum and Dad download] and encourage you to read it and discuss your situation with us.

Business Succession Planning is the process of preparing a business and its owners so they can optimise the transfer of ownership. The change in ownership may be planned (eg sale or retirement) or unplanned (eg death, breakdown in relationships) but either way preparation is essential. The succession may be internal (co-owners, staff, family) or external (sale or listing), so there is lots to tailor to specific circumstances.

Our process is designed to put the Success into Succession Planning. We consult with you and work with your other advisers to develop a Succession Plan. From that we will then formulate the legal documents you need to make that plan happen effectively.

Estate Planning is the process of developing strategies and actions for you to take now to preserve your assets for yourself, your family and your successors. It helps ensure that your estate is administered and distributed to the maximum benefit of who you choose, and also that if you need support at some point in life then the people you trust can be there for you.

The process involves creating a comprehensive plan with supporting documents that outline how your assets will be distributed, who will be responsible for managing your estate, how you should be cared for and how potential taxes and expenses will be addressed.

It’s important to understand that Estate Planning is not just something that older people do. Anyone who wants their loved ones to be looked after in case they suffer a major accident or serious illness (as well as if they pass away) should have an Estate Plan.