Our latest insights

When considering starting a Family Office, it is important to know the potential pitfalls that may affect your wealth position and how every family member has the potential to impact this wealth – positively and negatively. And many are often an untapped resource.

The complex multi-generation relationships in a family business define their success – and often underline their failures

How to finance the transition of a business through generations can be one of the fundamental challenges encountered in an effective succession plan.

Well over half of all Australian family businesses do not have processes in place to deal with conflict, to clearly express the aim and goal of the business and to allow for transition and succession. Consulting a third party facilitator can assist with the formation of a governance structure. A facilitator provides a layer of independence as they are not emotionally involved, and serve in holding the family accountable, aiding in dealing with more sensitive matters.

There have been some recent developments from the ATO which are set to impact those using a discretionary trust as part of their financial family arrangements.

A family’s legacy – or wishes for its legacy – are as unique as each family itself.

Many families who have not already experienced a transition event can benefit from external assistance in developing their transition plan.

The results from the Family Business Survey 2021 show 65% of family businesses with a succession plan wanted to keep the business in the family; but the most staggering statistic resulting from the survey was of the families who sat together and documented a succession plan, 66% do not have their estate plans in order.

The Australian family business doesn’t just mean the café down the road. Spanning nearly every industry and size, the nimble nature of family businesses has meant that many have thrived during COVID – some even more so than their more corporatised competitors.