Baby boomers have been able to build their wealth and they are now the wealthiest generation in Australia’s history. Their over-riding concern is how they can transfer their wealth to the next generation without it being `lost’ to individuals outside the family group as a result of relationship breakdowns.
Similarly, blended families are a growing group in our community and they too have a special need to ensure that family wealth is passed on as intended.
These two groups of people should be aware of the ever growing `reach’ of the Family Court and its potential to interfere with their family wealth and businesses succession planning. Certain protections can be put in place. This protection starts with obtaining expert advice from a family lawyer on how best to `family law proof’ the family assets or how to provide for this as part of succession planning.
We, at Damien Greer Lawyers have the skills to provide such advice and we work with estate lawyers and/or commercial lawyers to achieve the best outcome for clients.
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