Succession and Estate Planning: how to protect what you’ve built for the next generation
Australia is currently experiencing the biggest intergenerational transfer of wealth in its history.
Whether it’s the family home, investment properties, superannuation, or a successful business—many older Australians are now thinking seriously about how to pass on their wealth in the most tax-effective, stress-free way possible.
But planning for the future involves more than just writing a will. Succession and estate planning is a process that involves careful thinking, open family conversations, and the right professional guidance.
At MB+M, our financial planning team works closely with families to help them understand their options, avoid unnecessary tax, and protect their legacy.
What is Succession and Estate Planning?
Succession planning involves preparing for the transfer of assets, responsibilities, or decision-making—often involving family businesses or trusts. It’s not just about who gets what, but how and when that transition takes place.
Estate planning focuses on how your assets will be distributed upon death, and how to ensure your wishes are followed. A good plan considers wills, superannuation nominations, powers of attorney, trusts, and more.
Why it matters
Without a clear, well-structured plan, families can face:
- Unnecessary tax bills (especially on superannuation or investment properties)
- Delays and legal complications in accessing estates
- Confusion or disputes between family members
- Missed opportunities to support children or grandchildren during your lifetime
For farming families
We work with many local farmers who face unique challenges when it comes to succession. A farm is often both a business and a family home, making it deeply personal and financially complex.
Some common issues include:
- How to fairly divide assets when one child stays on the farm and others don’t
- Minimising capital gains tax and avoiding forced sales
- Transferring land or business control gradually while retaining income or decision-making
- Understanding Centrelink impacts and retirement planning
At MB+M, we help farming families balance fairness, practicality, and emotion to ensure the family and the farm can continue to thrive for generations to come.
However, we also assist if it is decided to sell the farm, as no children want to take it on. This can be a highly emotional time but we are here to be by your side every step of the way. We can give you the confidence to sell whilst still maintaining the same living standards – minus the work!
Why come to MB+M?
Our business model includes accountants and business advisors who can help with the tax side of things, think CGT, tax minimisation strategies etc. We also have our financial planning arm of the business, where one of our financial advisors can help with investing, helping with super, retirement planning and more.
With your accountant and financial advisor on the same side and under the same roof, your estate planning can be done seamlessly by the MB+M team.
Our advisors are experienced in helping clients navigate this important stages of life. We can help with:
- Structuring assets for tax-effective wealth transfer
- Planning the most appropriate time and method to pass on wealth
- Reviewing superannuation and pension strategies
- Managing inheritances or intergenerational gifting
- Supporting conversations between parents and adult children
- Assisting with future planning; from retirement to aged care planning
Every family is different, and your plan should be too. Whether you’re looking to hand over a business, protect assets for the next generation, or simply get your affairs in order, we can guide you through every step.
If you’re interested in booking an appointment, your first consultation is free. Call us on (03) 5831 1233 to speak with our team about taking the first steps.
You may be interested in our other similarly aligned article about: The importance of SMSF succession planning.
If you’re interested in booking an appointment, your first consultation is free, call us on 03 5831 1233.
Published October 2025
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