With an ageing population holding considerable wealth many issues arise on the transfer of that wealth to younger generations. These circumstances are complicated by the frequency of second marriages between people having children from a previous marriage, assets held in trusts or by private companies, the ever increasing wealth in superannuation funds, and complex taxation and other laws governing these issues.
Our Wills & Estates lawyers provide expert analysis and advice in relation to the passing of assets, or control of those assets, from one generation to the next. They can prepare wills to meet the most complex of circumstances. However as wills are not the sole determinate of estate planning in many instances, they also focus on planning regarding trusts, superannuation and private companies.
Families who own farms or other businesses need to consider a range of succession issues if the intention is to pass the farm or business onto the next generation.