Wealth Transfer In A Sorry State – Aus

November 4, 2009 | By Kim Walker

More than a third of Australians have not considered estate planning or the transfer of their wealth to the next generation.

In a study conducted by AC Nielsen on behalf of investment group IOOF and reported here, 37 per cent of respondents had not even considered the issue. A further four per cent said estate planning was something their friends and family would be able to arrange.
Experts say that although a will was sufficient for previous generations, an increase in the number of joint assets, trusts and super funds means a more holistic approach is required.

The study also found that eight per cent of people are concerned about disputes over their estate. The sad fact is that many family and friends can and do use the legal system to dispute a will.