Intergenerational Wealth Transfer
What can Intergenerational Wealth Transfer combined with Independent Financial Advice do?
Strengthen your financial legacy.
Turn your lifetime of hard work, into meticulously preserved and growing, multigenerational wealth.
Take financial care of your loved ones, while you’re here, and once you’re gone.
For generation after generation.
Navigating Intergenerational Wealth Transfer and Planning
What is Intergenerational Wealth Transfer?
Intergenerational wealth transfer involves the deliberate and structured passing of wealth from one generation to the next, preserving your legacy in line with your wishes.
Assets often transferred between generations include:
Property
Investments
Business ownership
Superannuation
This wealth transfer often occurs directly from parent to child, but can also take place between other family members. It may happen through an inheritance, or through gifts made during someone’s lifetime.
What is Intergenerational Wealth Planning?
Intergenerational wealth planning is the process of structuring your finances, estate, and broader financial strategy to ensure your wealth is transferred smoothly, tax-effectively, and in line with your wishes. It's about more than simply passing on assets, it’s about protecting your legacy and preparing the next generation to manage it well.
Why Planning is Essential for Multigenerational Wealth Transfer
In Australia, intergenerational wealth planning is becoming an essential part of long-term financial strategy. While the transfer of intergenerational wealth is simple in concept, the execution requires careful planning. Without a well-structured transfer strategy, there may be legal disputes, hefty taxes, and potential mismanagement of assets.
This is where intergenerational wealth planning becomes critical.
The Role of a Financial Planner in Intergenerational Wealth
A financial planner can guide and support you through the complexities of multigenerational wealth transfer. Their role is multifaceted, and should include:
Advising on the preservation and growth of multigenerational wealth
Recommending the most effective methods of transferring assets to the next generation
Reviewing your wealth strategy to keep your wealth well managed in the present, and growing for the future.
Ensuring your wealth is protected, and prepared to endure for multiple generations to come.
The wealthiest generation in history is currently preparing for retirement and beyond.
As a result, the largest intergenerational wealth transfer in history is already underway.
Whether you're looking to protect your estate, reduce future tax burdens, or pass on your legacy through your assets. With the current focus, within financial planning and society at large, on the best methods to manage and facilitate intergenerational wealth transfer.
Now is the time to plan.