This regrettably is something that we come across where the key decision maker in a relationship has passed away or is incapacitated, and was in control of financial information, legal and financial structure, and importantly, had digital access to the money. In Australia, the majority of high net wealth (HNW) families are self-directed, with a key financial decision maker receiving multiple advice points across brokers, investment advisors, lawyer, insurance, banking, superannuation funds, and tax & accounting. The immediate risk is financial paralysis, no cashflow, and difficulty implementing the estate plan. The risk is that your affairs are disparate and not effectively brought together.   

As we have written variously on (When Estate Plans do not work, Complexity in Families: Intergenerational Wealth Strategy, Digital Assets: Estate Planning for the Modern Age), the affairs of families have become more complex. Wealth (and its cashflow) is invariably not directly owned, but operated through superannuation, trusts and companies where assets are controlled and not directly owned by the primary decision makers. Importantly, whilst there are very good reasons to utilize these structures, having it properly integrated and capable of operating when one of the key decision makers has passed is absolutely crucial. 

A core element of Cameron Harrison’s Wealth Management Solutions is Estate Planning & Intergenerational Wealth Transfer.  We have a team of specialist experts with vast experience on estate planning and most importantly, its practical implementation over 40 years. The requirements are: 

• A comprehensive, integrated Estate & Intergenerational Wealth Transfer Plan 

• That complex plans, structures and their operations are distilled into an easily comprehended summary 

• Drawing from business continuity, clearly laid out ‘Next Steps’ document which steps out what ought to occur on a critical event such as death or incapacity. These critical events are emotionally very difficult, but this helps reduce stress on immediate requirements and actions, and then how the estate plan structure will be progressed and implemented. 

• Having your personal point of contact at Cameron Harrison who has an intimate understanding of your affairs, has helped construct these plans, and will assist you in their implementation.   

Cameron Harrison have been advising business owners, families and significant wealth owners on asset allocation and intergenerational wealth management for over 50 years. We have demonstrated over a long period our ability to manage investments through both the good times and bad by keeping the client at the centre of our business.  

Please feel free to contact one of our specialists: 

Paul Ashworth 

Anne-Marie Tassoni 

Tristan Bowman 

David Clark