Will your family be ready when wealth changes hands?

Over the next 20 years, around $3.5 trillion will be passed from one generation to the next in Australia. For many families, the challenge isn’t about building the wealth - it’s making sure it’s handed down smoothly. Without a clear plan, money can create stress, conflict, and missed opportunities. But with the right steps, it can protect your loved ones and give the next generation the financial security and confidence to carry it forward.

Money can divide a family, or it can unite one - it depends on how you plan.

Here are three practical steps you can take now to make sure your family is ready for the future. Each one is simple, but together they make a big difference in protecting what you’ve built and keeping your family together and your plans on track.

1. Talk openly as a family

Money and plans can cause problems when nobody talks about them. Setting aside time for a simple family chat once a year - sharing what matters to you and listening to others - helps avoid confusion and keeps everyone on the same page.

2. Don't leave it to the last minute

Too many families delay decisions about who will take responsibility in the future. That’s when mistakes and family stress happen. Planning early means you can decide calmly who will do what, and set out a clear path for when that change should happen.

3. Help your family get ready

Passing on wealth isn’t just about leaving money - it’s about making sure your family know what to do with it. Start small: talk to them about your plans, let them sit in on a meeting with you and your professionals, or show them how the family finances are set up. The earlier they learn, the better they’ll be at protecting and growing what you’ve built.

Bottom Line

Don’t wait for a crisis to force these conversations. Start now - talk openly as a family, set out who will take responsibility, and give your kids the tools to manage well. That’s how wealth becomes more than money - it becomes a legacy that protects and supports your family for generations. If you’d like help getting started, let’s have a confidential chat.

More soon.