The $5.4 trillion wealth transfer: what families need to know about probate in Australia 

The $5.4 trillion wealth transfer: what families need to know about probate in Australia 

The great wealth transfer has arrived 

Australia is entering one of the largest intergenerational wealth transfers in history. Over the next 20 years, an estimated $5.4 trillion in property, business assets, superannuation and investments will pass from one generation to the next. For family businesses, this is more than just an economic headline. It represents real homes, farms, companies and investments built over decades, now being handed to children, grandchildren and, in some cases, professional trustees. 

The process of transferring this wealth isn’t automatic. It happens through estate planning during life and probate or estate administration after death. Both stages are critical, and both require careful legal guidance. 

 

What exactly is probate? 

Probate is the legal process of confirming a Will is valid and appointing an executor with authority to deal with the estate. Where there is no Will, the Court instead grants letters of administration to an administrator. 

For executors, probate is often the ‘gateway’ needed before banks, share registries, superannuation funds and property titles will release or transfer assets. Without it, beneficiaries can face lengthy delays and disputes. 

 

 

Why the $5.4 trillion transfer matters to families 

The scale of this wealth transfer means probate is no longer just an administrative step. Several trends are making estates more complex: 

Rising asset values: Property prices and superannuation balances have grown significantly, meaning many estates now exceed $1 million. 

Family business structures: Private companies, trusts and partnerships require specialist planning and careful administration on succession. 

Digital assets: From cryptocurrency to online investment accounts, these can easily be lost if not properly documented. 

Blended families: Second marriages, stepchildren and estranged relatives increase the risk of disputes. 

Taxation and compliance: Superannuation death benefits, capital gains tax and probate filing fees can substantially reduce the value of inheritances if not managed carefully. 

For family businesses, these issues intersect. Ownership interests in a company or farm may be tied up in trusts, with control passing not just through inheritance but through company constitutions, shareholder agreements and appointor provisions. Probate is often only one part of a much larger succession puzzle. 

 

Common challenges families face in probate 

The Vale 2025 Probate Report highlights that: 

  • 42% of Australians either don’t have a Will or aren’t sure if they do. 
  • 60% anticipate a family dispute about inheritance. 
  • Probate filing fees can reach over $17,000 in Victoria, and delays of several months are common in New South Wales. 

For families already dealing with grief, these obstacles can feel overwhelming. Executors often need to manage beneficiary expectations, liaise with asset-holders, and respond to Court requisitions, all while keeping a business or farm running.

We can help manage the stress and complexity of administering a deceased estate, call us on 1300 654 590 or email us.

 

How to prepare: steps for families and family businesses 

The best way to protect your legacy is to plan ahead. Some practical steps include: 

  1. Update your Will regularly: Make sure it reflects your current family, business and financial situation. 
  2. Document your business structures: Shareholder agreements, trust deeds and company constitutions should be reviewed to ensure they align with your estate plan. 
  3. Plan for liquidity: Estates often face significant upfront costs (probate filing fees, tax, debts) before assets can be released. A plan for cash flow is critical. 
  4. List your digital assets: Executors cannot distribute what they don’t know exists. Keep an up-to-date register. 
  5. Communicate with family: Many disputes can be avoided if beneficiaries understand the plan ahead of time. 

Why legal guidance is essential 

For family businesses in particular, probate is not just about paperwork. It is about preserving the family’s legacy, protecting livelihoods, and ensuring the next generation can build on what has been created. 

At ADLV Law, we regularly work with multi-generational family businesses navigating probate and succession. Our role is to guide executors through the legal process, anticipate risks, and protect family wealth so that assets are passed on smoothly and fairly, call us on 1300 654 590 or email us to get started. 

 

Final word 

The $5.4 trillion wealth transfer is not a distant statistic – it is already happening in families across Australia. Whether it is a family farm, a small business, or a portfolio of investments, the way probate is managed can make the difference between a smooth transition and years of stress. 

If you or your family are preparing for probate or estate administration, ADLV Law can help. We combine technical expertise with a deep understanding of family businesses and intergenerational wealth.  

Call us on 1300 654 590 or email us  to discuss how we can support your family’s next chapter.

 

The information contained in this post is current at the date of editing – 05 February 2026.

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