Family relationships can be complex. It is important to think clearly about succession planning both from the perspective of vulnerable beneficiaries and also from the perspective of what you as an individual think is important. You may be able to develop this plan on your own but it is likely that you will require the assistance of professional advisers.
It may be desirable to create a non-threatening and respectful environment in which family members can discuss specific legacy objectives including family communication and trust, investment performance, business interests, charitable giving and the financial needs of specific family members (not all family members will have the same needs).
At Mills Oakley, our estates and succession lawyers work with high net worth and ultra-high net worth individuals who may or may not own businesses, to help them build the appropriate structures for these discussions, which often include a family council chaired by an independent adviser.
Part of your succession plan will involve a conversation about how to care for you, not just how to care for your beneficiaries. This will involve questions about how to look after your financial well-being, your care and accommodation, as well as your medical treatment. Of course, we can prepare legally binding documentation for you, but we also help our clients to develop blueprints to be used in the event of an emergency.
In all of our interactions with you, our goal is to provide you and your family with peace of mind that this difficult and very important project is being taken care of. Please follow the links below for specific information about our services relating to estates and succession.
At our firm, succession is not dealt within a vacuum. Succession advice at Mills Oakley is provided by our Private Advisory team which offers a unique, multidisciplinary service which stands alone in the Australian legal market. We not only offer you the services of expert lawyers in area of Wills, Estates and Succession, Asset Protection, Family Law, Corporate Structures and Tax, we also understand you achieve best results when we, the legal experts work closely with other professional advisers like your accountant, banker and financial planner. We work with our clients, developing strong relationships with a view to support the family through difficult times.
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