In the past, transferring wealth often meant a single moment—a legal reading of a will after someone passed. But the landscape has changed. The great intergenerational wealth transfer currently underway—estimated to exceed $5 trillion in Australia by 2050—is no longer just about estate planning. It’s about how we live, how we give, and how we plan together.
At Onelife Financial, we see wealth transfer not just as a legal formality, but as a deeply personal process—one that should reflect your values, relationships, and the kind of life you want to support across generations.
“We’re seeing more families choosing to support their children now—helping them build their lives while they’re young—rather than waiting for a traditional inheritance trigger. It’s a powerful shift in how we think about legacy.”
— Daniel Grusd, Director, Onelife Wealth Management
Why This Shift Matters
Unlike previous generations, today’s retirees are living longer, retiring more flexibly, and often choosing to live for today while still planning for tomorrow. That means wealth transfer is no longer just part of your estate plan—it’s part of your life plan.
It also means that traditional approaches to retirement, family gifting, and asset distribution need to evolve. People are asking:
- “Should I help my kids buy a home now?”
- “Can I gift funds without compromising my own retirement?”
- “What structures can I use to protect family harmony?”
The answers depend on your unique goals, and that’s where thoughtful planning becomes essential.
Wealth Transfer Is Already Happening
Australia saw an estimated $150 billion in inheritances in 2024—a figure projected to grow dramatically over the next two decades. While some of this will occur posthumously, an increasing portion is being passed on while the benefactor is still alive.
This could include:
- Helping children onto the property ladder.
- Supporting education or clearing student loans.
- Gifting money for investments or super contributions.
- Contributing to intergenerational businesses or philanthropic initiatives.
While generous, these actions can carry tax implications, affect Centrelink entitlements, and trigger family misunderstandings if not properly managed.
Tips for a Modern Wealth Transfer Strategy
✔ Start with a family conversation
Wealth transfer can be emotional. Talk openly with your loved ones about your intentions, values, and what matters most. Avoid surprises.
✔ Don’t wait for a ‘trigger event’
Support your children or grandchildren during milestones—buying a home, raising a family, starting a business. But always plan it wisely.
✔ Revisit your structures
Consider tools like testamentary trusts or family agreements to manage risk, provide clarity, and ensure flexibility across generations.
✔ Seek professional advice
Intergenerational advice can help both generations align their goals, understand tax implications, and protect the overall family legacy.
“One of the most powerful things you can do is ensure your legacy strengthens family relationships, rather than puts them at risk.”
— Daniel Grusd
Retirement and Wealth Transfer Go Hand in Hand
As retirement becomes less about stepping away and more about redesigning your lifestyle, the timing and purpose of wealth transfer changes too. It’s not just about how much you leave behind—but how your financial decisions today shape the lives of those you care about tomorrow.
Let’s Talk About Your Legacy
Whether you’re exploring how to pass on wealth tax-effectively, protect your estate, or simply want to help your children today without compromising your lifestyle, we’re here to guide you through it.
📞 Book a conversation with Daniel Grusd: Book an Appointment.
Sources
- JBWere Bequest Report 2024
- Australian Productivity Commission: Wealth Transfer Data
- ALRC Report on Wills
- Vanguard Smart Investing™
