Building Family Wealth That Last for Generations

Following on from these summer conversations, the next step is turning insight into strategy. Building a lasting legacy isn’t just about wealth – it’s about creating systems, capability, and values that endure across future generations.

Australia is on the verge of a major intergenerational transfer, with an estimated $3.5 trillion set to move from baby boomers to younger generations in the coming decades. Without preparation, much of this wealth can be lost studies suggest around 70% disappears by the second generation, and up to 90% by the third.

Early Education and Exposure

Preparation starts with education and involvement. Teaching children about budgeting, saving, investing, and responsible spending equips them with the skills to manage wealth confidently. Exposure to family business or investment decisions, in age-appropriate ways, strengthens understanding and builds respect for family values.

Structures That Protect and Grow Wealth

Trusts, wills, and governance frameworks are more than legal formalities – they ensure wealth is preserved, managed wisely, and distributed responsibly.

• Asset protection: Safeguard assets from disputes and external risks.
• Control over distribution: Decide how and when wealth is accessed to encourage responsibility.
• Tax efficiency: Structures designed with strategy in mind reduce tax impact and maximise growth potential.

Early exposure to investing and financial decision-making allows children to develop competence alongside family values.

Balancing Wealth and Purpose

Purpose is as important as money. Children who see wealth as a tool for creating impact tend to make wiser, more responsible decisions. Families that integrate investment strategy with governance, education, and values create holistic legacy plans that safeguard both wealth and family harmony.

From Summer Conversations to Lasting Family Legacy

The insights from summer gatherings are just the beginning. With the right guidance, families can translate discussion into action, preparing the next generation to take responsibility and make informed decisions while preserving family values.

At Morrows, we help families:

• Turn informal conversations into structured plans
• Prepare the next generation for financial responsibility
• Protect and grow wealth for long-term sustainability
• Instil values, purpose, and capability alongside financial security

Next steps for families include engaging children in conversations, reviewing structures, and seeking guidance to ensure wealth is preserved and the legacy is meaningful.

Are you ready to take the next step?

If you are ready to take action and help safeguard your family legacy, please complete the form below, and we will put you in touch with our family office advisors.