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Australia is in the middle of a $5.4 trillion wealth transfer. Baby boomers and the silent generation hold 70% of the nation's wealth and according to Perth's leading succession lawyer, most of it won't transition successfully. In this episode, Capital Partners founder David Andrew and wealth adviser Aden Wilkins sit down with Morgan Solomon, founding director of Solomon Hollett Lawyers, to unpack what actually happens when estate planning goes wrong and what successful families do differently.

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Follow Morgan Solomon:
LinkedIn: https://www.linkedin.com/in/morgan-solomon-b13ab58/
Solomon Hollett Lawyers: https://solomonhollettlawyers.com.au/

Follow David Andrew:
LinkedIn: https://www.linkedin.com/in/davidandrewfamilywealthadviser/
Capital Partners: https://capital-partners.com.au/team-members/david-andrew/

Follow Aden Wilkins:
LinkedIn: https://www.linkedin.com/in/aden-wilkins-40b006105/
Capital Partners: https://capital-partners.com.au/team-members/aden-wilkins/

Follow Capital Partners on socials:
Facebook: https://www.facebook.com/CapitalPartnersPWA/
LinkedIn: https://www.linkedin.com/company/capital-partners-3/
Instagram: https://www.instagram.com/capitalpartnersprivatewealth/

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Chapters:
(0:00) Welcome & Wins of the Week
(6:00) Introducing Morgan Solomon & the $5.4 Trillion Wealth Tsunami
(9:30) Why Most Wealth Won't Transfer Successfully
(13:30) The Disaster of Dying Without a Will
(16:10) Blended Families: The Most Complex Estate Planning Scenario
(18:00) Family Provision Act Claims — The Fastest Growing Court Dispute in WA
(22:00) The Black Sheep Child: Can You Cut Them Out?
(28:00) The Family Farm Succession Trap
(35:50) What Successful Families Do Differently
(40:00) How Often Should You Review Your Estate Plan?
(43:30) The Ensemble of Advisors You Need
(49:30) Final Takeaways: Have the Conversation, Take Action

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Recorded and produced by Podwave Studios: https://podwavestudios.au/

The Purposeful Investor Podcast is a public service provided for Australian investors wanting to make smart decisions with their money, avoid costly mistakes, look after the people they care about, and, have a great life!

We draw on over 30 years of experience from David Andrew and the Capital Partners team.

For more information on Capital Partners' award winning team, visit capital-partners.com.au.

Have a question? Email us ask@capital-partners.com.au.

This episode provides general advice only. We do not consider your personal circumstances when we share this information. Always refer to your financial adviser for advice about your personal circumstances.

Capital Partners Consulting Pty Ltd AFSL 227148 trading as Capital Partners Private Wealth Advisers ABN 27 086 670 788.