Loans and guarantees, family law and domestic partner claims and a growing list of 'at risk' pursuits involving directors' duties, professional practice risks and underlying business risks, can undermine the capital base of a business and erode family wealth. ABL is experienced in the structuring and implementing strategies with an emphasis on effective risk and liability management to manage the risk of loss of family wealth.
Estate planning and disputes
We are experienced in formulating and implementing appropriate strategies to ensure clients’ testamentary wishes are fulfilled while addressing critical tax considerations and managing the risk of disputes and family acrimony. We also have extensive experience in representing key stakeholders in disputes and litigation involving estates and trusts, including family provision claims and other litigation dealing with beneficiary claims.
Business succession planning and family agreements
Effective business succession planning involves not only the transfer of control or ownership of a business, but also satisfying tax objectives and stakeholder requirements. Our experience in advising in relation to multi-generational wealth transfers is unparalleled.
We devise strategies for private clients whose businesses are entering a transitional phase, so that the appropriate control mechanisms and agreements are established in situations where appropriate individuals are appointed to run the business. We also assist clients wishing to transfer business ownership to specific individuals in a manner that is fair and equitable to all family members.
Taxation planning and advice
With the Australian Taxation Office (ATO) continuing to target high-net-worth individuals and family groups for investigation and audit, an effective wealth management strategy is vital in protecting assets from the potentially erosive effects of taxation.
Our reputation in the area of private client taxation is unrivalled. See our Taxation page for more information and contact details.
A large number of our private clients support various social causes through the establishment of charitable funds and special purpose philanthropic interests. ABL is at the forefront of this area of law, being widely experienced in planning for charitable giving from the perspective of both the donor and the recipient organisation and assisting in the establishment of special purpose philanthropic entities.
Of particular note is our work in establishing private ancillary funds (PAFs), a Federal Government initiative to promote corporate and personal philanthropy. In addition, partners of the firm act as trustees on several client PAFs, and more broadly, advise on the tax-effective allocation and management of charitable funds.
We are able to assist with the setting up of companies and trusts. For more information about this service, click here.