Speaking to the Australian Financial Review, Suzanne Jones explains that estate planning is becoming more complex as estates grow larger and personal relationships become increasingly dynamic.

Suzanne Jones, a Partner and Wills & Estates lawyer with Coote Family Lawyers, says the effect of inflation has become a greater consideration.

Perhaps Child A is gifted $1.5 million for property at age 35, and Child B is only 25. Ten years later, Child B is perhaps getting ready to buy when the parents suddenly die. Child B could claim their parents would also have given them $1.5 million – but they could also claim that with inflation, it would be more like $1.7 million.

Suzanne says that for a growing number of families, there are three things going on:  

• The parents’ estate has swollen in value thanks to surging home prices and superannuation funds. 
• Plus, Mum or Dad may have remarried, introducing a new spouse and potentially new children to the matter. 
• Meanwhile, those without property find it harder to buy, fueling difficult money conversations.

“There’s a lot more to fight over,” she says.

You can read the full article that was published in the Australian Financial Review here

If you need advice on your estate planning please call our team of top family and estate planning lawyers on 03 9804 0035.

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