Estate planning and succession planning 

Making sure what you have built goes where you intend

Estate and succession planning is about more than deciding who receives what. It is about ensuring that the people, assets and structures you have spent a lifetime building are protected, managed and transitioned in a way that reflects your wishes and minimises unnecessary complexity for those you leave behind. Good planning in this area is rarely a single conversation but an ongoing process that evolves as life, relationships and assets change over time.

Understanding your estate and what needs to be planned for

Effective estate planning starts with a clear picture of what you have, how it is held and what happens to it when you are no longer able to manage it or when you pass away. For many people this is more complex than it first appears.

Work in this area may cover:

• Mapping assets across personal, trust, company and superannuation structures
• Identifying how different assets are dealt with on death and whether they fall within or outside the estate
• Reviewing existing wills, powers of attorney and other estate planning documents
• Identifying gaps or inconsistencies in existing arrangements
• Considering the needs and circumstances of beneficiaries and how they should be provided for
• Advising on the role of testamentary trusts in protecting and managing estate assets for beneficiaries

A clear picture of your estate and how it is structured is the starting point for planning that actually works.

Succession planning for families and business owners

For those with business interests, investment structures or significant family wealth, succession planning involves an additional layer of complexity. How ownership and control transitions to the next generation or to third parties requires careful thought and clear documentation.

Support here may include:

• Advising on succession strategies for family businesses, investment entities and trust structures
• Structuring the transfer of business interests during life or on death
• Preparing or reviewing shareholders agreements, trust deeds and other documents that affect succession
• Advising on equalization strategies where assets are to be distributed across multiple beneficiaries
• Considering the impact of capital gains tax, stamp duty and other tax implications on succession arrangements
• Aligning succession planning with broader wealth and estate planning objectives

Succession planning that is thought through early and documented clearly can help avoid the disputes and complications that so often arise when these conversations are left too late.

Protecting vulnerable and dependent beneficiaries

Not all beneficiaries are in the same position to receive and manage an inheritance. Planning for those who may need additional protection, whether due to age, disability, financial vulnerability or relationship circumstances, is an important part of a comprehensive estate plan.

This may extend to:

• Structuring testamentary trusts for vulnerable or at-risk beneficiaries
• Advising on special disability trusts and other protective arrangements
• Considering the needs of minor beneficiaries and how their interests should be managed
• Addressing blended family circumstances and competing interests between beneficiaries
• Reviewing arrangements where a beneficiary's relationship or financial circumstances may affect how an inheritance is received or retained

Thoughtful planning for the needs of individual beneficiaries can make a significant difference to the outcomes they experience.

Practical and considered advice

Estate and succession planning conversations are among the most personal a person can have with their lawyer. Advice is focused on understanding what matters most to you, helping you see the full picture and putting arrangements in place that give you confidence your wishes will be carried out clearly and effectively.