Invest
Wealth transfer worrying older Australians
More than half of Baby Boomers hold beyond-the-grave concerns that their wealth might be misused or mismanaged on its passage to the next generation, a report has found.
Wealth transfer worrying older Australians
More than half of Baby Boomers hold beyond-the-grave concerns that their wealth might be misused or mismanaged on its passage to the next generation, a report has found.

Crestone Wealth Management’s research has found that tax implications, the misuse of assets, and the ways wealth is distributed are all rated highly as concerns for high-net-worth and ultra-high-net-worth individuals considering the intergenerational transfer of wealth, especially for Baby Boomers.
The use of focus groups as a methodology by Crestone revealed that concerns “are typically quite emotional and personal”, with a strong desire among the wealthy to avoid future personal conflicts or dispute around the distribution of wealth.
The report noted recognition “that such conflicts or disputes can get ugly” and iterated a need for individuals to be well prepared.
A link was found between the level of worry associated with wealth transfer and having a plan in place to deal with it, according to the research.

The report indicated that those with a clear plan “tend to have a will in place and have structured their wealth appropriately, with most having sought or intending to seek support from an adviser”.
“Those who are worried about the wealth transfer process are less likely to have a clear plan in place than those who are not worried (26.9 per cent compared with 44.6 per cent),” the report read.
Despite this prevalence of concern, the Baby Boomer category was the generational group most likely to have a clear plan in place, with one in two wealthy individuals in the age bracket indicating they had worked through such details.
nestegg has previously looked at the phenomenon of ultra-high-net-worth and high-net-worth individuals holding their assets across three “risky” asset classes: cash, Australian equities and residential property.
About the author

About the author


Spending
Moneysmart study reveals Gen Z women more concerned about finances than men
A new research conducted by ASIC’s Moneysmart has unveiled the heightened levels of stress and concern regarding finances and the cost of living among Australian Gen Z women compared to their male ...Read more

Spending
The cost of politeness: Aussies out of pocket by $1,350 due to 'awkward tax'
It's the time of year when Australians dive into their pockets for festive events and gatherings, yet a recent study by PayPal suggests that many are too polite, or perhaps too embarrassed, to ask for ...Read more

Spending
Aussies can ‘NAB Now Pay Later’ with the last major bank to embrace BNPL
NAB has become the latest bank to enter the BNPL market. Read more

Spending
Aussie households spent $368 a week on transport after petrol price surge
Fuel costs have increased by 40 per cent over the past year, a new report from the Australian Automobile Association has revealed. Read more

Spending
Voters say reducing the cost of living should be the government’s top priority
Aussies have ranked high cost of living as the top issue that needs to be addressed by the next government. Read more

Spending
Bodies back Labor’s commitment to stronger BNPL regulation
All parties should commit to stronger regulations for the BNPL sector, according to Financial Counselling Australia. Read more

Spending
Household spending surges led by retail and recreation
Spending on retail, recreation and hospitality have continued to climb as COVID-19 case numbers and restrictions have eased. Read more

Spending
Banks extend financial assistance to flood-affected customers
A range of assistance is available from major banks to those impacted by flooding in NSW and Queensland. Read more

Spending
Moneysmart study reveals Gen Z women more concerned about finances than men
A new research conducted by ASIC’s Moneysmart has unveiled the heightened levels of stress and concern regarding finances and the cost of living among Australian Gen Z women compared to their male ...Read more

Spending
The cost of politeness: Aussies out of pocket by $1,350 due to 'awkward tax'
It's the time of year when Australians dive into their pockets for festive events and gatherings, yet a recent study by PayPal suggests that many are too polite, or perhaps too embarrassed, to ask for ...Read more

Spending
Aussies can ‘NAB Now Pay Later’ with the last major bank to embrace BNPL
NAB has become the latest bank to enter the BNPL market. Read more

Spending
Aussie households spent $368 a week on transport after petrol price surge
Fuel costs have increased by 40 per cent over the past year, a new report from the Australian Automobile Association has revealed. Read more

Spending
Voters say reducing the cost of living should be the government’s top priority
Aussies have ranked high cost of living as the top issue that needs to be addressed by the next government. Read more

Spending
Bodies back Labor’s commitment to stronger BNPL regulation
All parties should commit to stronger regulations for the BNPL sector, according to Financial Counselling Australia. Read more

Spending
Household spending surges led by retail and recreation
Spending on retail, recreation and hospitality have continued to climb as COVID-19 case numbers and restrictions have eased. Read more

Spending
Banks extend financial assistance to flood-affected customers
A range of assistance is available from major banks to those impacted by flooding in NSW and Queensland. Read more