EST029 How will an inheritance affect your children? (579 words)

Introduction

Australia has emerged from a mix of wonderful cultures, many of which came to our country in search of a new life in a new country with great promise. The courage and commitment our forefathers brought with them from often difficult lives elsewhere has been the basis from which the Australian ethos of “never give up” has flourished.

Many started small businesses and worked long, hard hours to build successful family empires. A proportion of these have made good pickings for overseas giants with thick wallets.

The commitment and courage continued into the next generation, who are now adults in their 50s and 60s… the baby boomers. The boomers carried on the work ethic of their parents but along the way decided they wanted more life balance than their parents. Time-saving devices and leisure became essential commodities in their lives… but they worked hard for it.