Succession Planning · Australian Family Wealth
Protecting what
matters most.
Beyond Wealth.
We work with a small number of significant families to grow and protect their wealth for future generations. Clarity, not noise. Direction, not drift.
$3.4T
transitioning over the next 5 years
600K
family businesses over $5M turnover
8%
have a formal family board in place
Life, beyond wealth. Helping families activate their true potential.
The Australian context
Wealth is transitioning at unprecedented scale.
In the last 30 years, material shifts have created an urgent need for a holistic approach — one that addresses family, financial, structural, and human dimensions together.
$150B
transferred in inheritances in 2022 alone — a figure that will grow significantly as baby boomers transition wealth.
80%
of family business owners want to protect their business as a family asset, yet only 27% have a family constitution.
50%
have a shareholder agreement and only 8% have a family board — leaving significant governance gaps.
Where complexity lives
Six dimensions of complex succession.
From small estates to significant family fortunes, the core challenges remain consistent — and they span far beyond legal documents.
Family
- Family misalignment
- Breakdowns in communication
- Trust and disinterest
- Financial imbalance between members
Financial
- Family financial needs
- Wealth distribution decisions
- Decision-making and advice
- Transparency and reporting
People
- Family dynamics and aspirations
- Control and capability
- Values and trust
- Generational readiness
Structural
- Ownership clarity
- Fit-for-purpose structures
- Control and succession mechanics
- Visibility and reporting
Timing
- Handover planning
- Readiness and retirement
- Contingency planning
- Urgency and process clarity
Communication
- Clarity before communication
- Messaging and delivery
- Transparency and inclusion
- Managing conflict and perception
How wealth transitions
Income. Equity. Control.
Three interconnected questions that every succession plan must answer — clearly, fairly, and in the right sequence.
Income
Who should receive income, and why?
How will income evolve over time?
Is income aligned with roles and performance?
What income is expected during retirement or exit?
Are KPIs clearly linked to remuneration?
Equity
Who should own equity and in what proportion?
What protections exist for unexpected events?
How is equity managed between active and non-active members?
How will equity transfers be funded, timed and documented?
Control
How will decision-making authority transition over time?
Is there a structured path for future leaders?
What governance supports the next generation?
How will accountability be maintained post-transition?
Our approach
Building from the ground up.
Succession planning is not a single document — it is a layered process built on human understanding, strategic clarity, and the right structures.
Essential documents — Wills, Powers of Attorney, Deed Amendments, Family Charters
Clear pathway across generations
Define decision-making processes
Assess risks that could impact the plan's success
Understand structures — existing and future
Identify, value and organise assets
Understand the people, relationships and dynamics that make up a family
Advanced structures
The power of Testamentary Trusts.
Moving beyond a basic will provides significant and lasting advantages for your beneficiaries — advantages that compound across generations.
Asset Protection
Shields inheritances from creditors, bankruptcy, and relationship breakdowns by keeping assets outside a beneficiary's personal ownership.
Tax Efficiency
Enables income splitting and access to adult tax-free thresholds for minors, allowing for significantly lower overall family tax across generations.
Control & Flexibility
Trustees can manage and distribute assets according to changing needs — preserving wealth across generations without rigid constraints.
Support for Vulnerable Beneficiaries
Provides structure and oversight for minors or individuals with financial, health, or personal vulnerabilities.
Purpose of family wealth
Where does your family sit?
The purpose of family wealth sits on a spectrum — from perpetual centralised stewardship to full independence. Understanding where your family sits shapes every decision that follows.
Perpetuity
Preserve wealth indefinitely through centralised family control where legacy comes first.
Structured
Maintain unity with flexibility through clear rules, shared representation, and aligned interests.
Divisible
Provide clear exits and defined entitlements while allowing the next generation to choose their path.
Independence
Split the wealth fully, prioritising autonomy and independence as the family structure winds down.
The governance framework
Six steps to a lasting family office.
Establishing governance is not a single event — it is a structured journey that begins with education and culminates in a living, evolving system serving future generations.
1
Education & Awareness
Family Office concepts, mapping complexity, highlighting key risks.
2
Purpose of Wealth
Clarify values and vision. Define what the wealth is meant to achieve generationally.
3
Structures
Architect legal structures and reporting frameworks to support the family strategy.
4
Governance Development
Establish guiding frameworks and protocols for decisions and participation.
5
Implementation
Activate designed structures, roles, and policies. Begin operating as a cohesive unit.
6
Ongoing Governance
Sustain, adapt, and evolve the governance model to serve future generations.
The levels of family rules
Policies. Charter. Constitution.
A well-governed family office operates across three levels of rules — each serving a distinct purpose, with different levels of flexibility and legal weight.
Operational
Policies
The "rulebook" — high flexibility, updated regularly by the Family Council.
- Distribution policy and investment guidelines
- Philanthropy approach and participation rules
- Meeting frequency and code of conduct
- Plain English, easy to reference
Aspirational
Charter
The "north star" — captures vision, purpose, and legacy intentions.
- Family mission, values, and purpose of wealth
- Stewardship principles and high-level goals
- Aspirational, plain English, less legalistic
- Requires family agreement to update
Binding
Constitution
The "rule of law" — embedded in trust deeds and company constitutions.
- Ownership rights and voting thresholds
- Corporate Appointor powers, succession triggers
- Fallback provisions, sale of business requirements
- Requires legal process to amend
Begin the conversation
Your family's legacy deserves a considered plan.
Whether you're a founder thinking about transition, a family navigating succession, or the next generation preparing to receive the baton — QuarterFive brings the right people, process, and expertise to the table.
Connection
Appreciation
Legacy
Mastery
This material is general in nature and does not constitute legal, financial, or tax advice. Please seek professional advice tailored to your circumstances. QuarterFive Family Wealth · Level 9, 505 Little Collins Street, Melbourne VIC 3000
