Families preparing for Australia’s great wealth transfer are focusing on the wrong problem, according Will Hamilton.
As enormous pools of property, business equity, superannuation and investment capital begin passing from Baby Boomers to their children and grandchildren, Hamilton writes that inheritance disputes are rarely about the money itself, but about years of unspoken expectations, unresolved sibling dynamics and family roles that were never properly defined.
He draws a distinction between families that are merely becoming richer and those becoming genuinely wealthier, arguing that good governance, honest conversation and preparing the next generation for the responsibilities of ownership matter more than any legal document in determining what survives the transfer.
Read the full article here: The crucial inheritance mistake to avoid in the great wealth transfer
