Intergenerational Wealth Transfer

What is Intergenerational Wealth Transfer?

Each year, an enormous sum of wealth is acquired by beneficiaries, young and old, via inheritance and gifting – this is referred to as intergenerational wealth transfer. 

Right now, we are on the brink of a wealth transfer explosion, with the largest transfer in history expected over the next 10-20 years as baby boomers pass over their significant ownership of accumulated assets. Baby Boomers make up roughly 25 percent of Australia's population, yet own more than 50 percent of the nation's private wealth.

Many of the younger generations, including Generation X and Y, will be the main beneficiaries of this huge stockpile of wealth which some estimate to be in excess of $3 trillion. Increased incomes, accumulated superannuation benefits, property growth and longer life expectancies are all contributing factors.

Whether you’re an expectant inheritor or donor, intergenerational wealth is an important topic and even more so, an important conversation to have. It is estimated that approximately 70% of intergenerational wealth transfers fail, simply due to the lack of appropriate planning, and this planning couldn’t be more important.

Even so, knowing the importance doesn’t necessarily make it any easier and despite all this, succession planning, wealth planning, and dare we say death, are extremely difficult and somewhat taboo subjects to discuss with the ones you love. Not everyone has the same views or values when it comes to wealth and forward planning, so this can cause conflict and anxiety. 

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If you expect to transfer a considerable amount of wealth, adequate planning and preparation can make all the difference and is indeed necessary - difficult discussions or not.

Perhaps you’ve purchased several different properties, sold your business, received a recent inheritance yourself, have new family members or experienced the loss of a loved one. If so, then the time has come to plan.

No matter the reason, intergenerational wealth transfer is likely to be at the forefront of your mind right now and can be a stressful thought to say the least. But there is no need to feel burdened by this - adequate planning with an experienced professional adviser will result in financial security and peace of mind for you and your family.

Lack of preparation, tax knowledge or financial education can all be contributing factors towards a decrease in wealth between generations, but with the right conversations, and the right professionals by your side, this can be avoided.

If you haven’t discussed your will or legacy with your children, you’re not alone and we’re here to help you through it. Take control of your wealth preservation and family security by starting to talk about wealth with your proposed beneficiaries now, your future self and your loved ones will thank you for it.


If you’re in a position to receive a large inheritance or gift in the near or not so near future, it’s likely you’re already aware, but are you really prepared to receive wealth? Will you know what to do with it when the time comes? If you have already received one, do you know what to do now? You may receive more than you expect or know how to practically manage. 

Inheritance doesn’t necessarily just mean passing over a bunch of assets, it can mean so much more such as passing on financial security through generations and in some cases includes businesses, brands and family legacies. Unsurprisingly, if you haven’t discussed your inheritance, you’re not alone. With the many emotions attached to such a subject such as guilt, fear, confusion and sadness, these discussions can be extremely difficult and, in some cases, even painful.

However, with the right conversations, advice, adequate planning and education, you can ensure you don’t squander the wealth you inherit, but rather retain it and use it wisely to be able to then pass it on to future generations. This will result in peace of mind for a comfortable retirement when your time comes, as well as a promising future for your family too.

Don’t allow the fear of these conversations stop you from speaking to your loved ones. Lack of conversation = lack of appropriate planning, which is why sadly around 70% of intergenerational wealth transfers fail. 


At RSM, we have a team of dedicated and experienced wealth transfer planning experts who can provide the guidance needed to ensure peace of mind for both you and your family, along with financial certainty and security.  

  • Wealth preservation and protection methods 
  • Gifting and estate equalisation strategies 
  • Wills and Estate Planning reviews and referrals 
  • Superannuation and retirement planning strategies 
  • Investment advice 

Work with RSM to plan your legacy, protect your family and preserve your wealth for the future. With a multi-generational team for your multi-generational family, we can help you break down barriers and reduce risk, by including your family members in our important wealth planning conversations at the appropriate time.

Allow us to help you build sustainable family wealth for generations to come.  

Book an initial consultation with with your local RSM Intergenerational Wealth Transfer expert adviser today. Simply contact your local RSM office. 

Looking for assistance with intergenerational wealth transfer?    
The expert financial advisers at RSM Financial Services Australia can help.


This page has been prepared by RSM Financial Services Australia Pty Ltd ABN 22 009 176 354, AFS Licence No. 238282.

As everyone's circumstances are different and this article doesn't take into account your personal situation, it is important that you consider the above in light of your financial situation, needs and objectives, and seek financial advice before implementing a strategy.   
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