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For Family Wealth Protection - see your local SAPEPAA Adviser




Family Wealth Protection involves strategies and structures designed to safeguard a family's assets and wealth from various risks and threats. These can include creditors, family disputes, legal claims, and more. The primary goal is to ensure that wealth is preserved within the family bloodline for future generations. According to Grant Abbott's Family Wealth Protection in Australia, this concept extends beyond mere asset preservation; it encompasses a comprehensive approach to securing financial stability, respecting the family's wishes, and minimizing potential conflicts and legal challenges. If you would like to be the first to receive excerpts of this book - register for free at www.grantabbott.com


Five Key Benefits of Family Wealth Protection

  1. Continuity and Stability: Ensures that family assets and businesses continue to operate smoothly without interruption, preserving the value and income they generate.

  2. Minimized Conflict: Clearly defined structures and roles reduce potential disputes among family members, avoiding emotionally and financially draining legal battles.

  3. Legal Compliance and Protection: Provides a robust legal framework that protects assets from creditors and legal claims, ensuring compliance with relevant laws.

  4. Preservation of Legacy and Intentions: Ensures that the family's wishes are respected and that assets are managed and distributed according to these intentions.

  5. Efficiency and Cost Savings: Reduces the need for court interventions and legal fees, preserving more of the estate's value for the intended beneficiaries.


Case Study: Destructive vs. Protective Estate Planning

Destructive Estate Planning: In the case of Cowap v Cowap [2020] NSWCA 19, the deceased left all his assets to his wife, Barbara, without making provisions for his stepson, Nick, who later suffered severe disabilities. Nick's subsequent legal claim led to the court reallocating $600,000 from the estate, forcing Barbara to sell the family home. This case illustrates the risks of inadequate estate planning, where the lack of foresight can result in significant financial and emotional strain on the family.

Protective Estate Planning: In contrast, a well-structured estate plan could include testamentary trusts and other protective measures, ensuring that assets are safeguarded from similar claims. This approach provides a clear path for asset distribution and reduces the likelihood of disputes, ensuring that the family's wealth remains intact and is passed on according to the deceased's wishes.


SAPEPAA Adviser: Who and What

A SAPEPAA Adviser is a professional certified by the Succession Asset Protection and Estate Planning Advisers Association. These advisers specialize in asset protection, taxation, SMSFs, estate planning, and succession planning. They provide comprehensive advice to ensure that family wealth is protected from potential threats, including legal claims, family disputes, and financial mismanagement. Utilizing a SAPEPAA Adviser helps families navigate complex legal and financial landscapes, offering peace of mind and ensuring that wealth remains within the family bloodline for generations. To get your Family Wealth Protection underway contact your local SAPEPAA Adviser - https://www.sapepaa.org.au/advisers or contact us at Abbott and Mourly Lawyers.

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