When people talk about family wealth, the conversation usually starts with numbers: how much, who gets what and when. But from our experience in working with financial advisers, the most powerful part of wealth isn’t just financial –it’s the emotional journey that shapes decisions, relationships, and long-term outcomes. And it’s deeply personal.  

Wealth carries memories: the hard work, the risks, the sacrifices and sometimes the fear. But it also carries optimism –moments of growth, progress and opportunity. When wealth is passed on, it’s never just money that changes hands. It’s values, lessons, expectations and responsibility. 

Our Reimagining Legacy research commissioned with CoreData confirmed that most Australians don’t view legacy purely in financial terms. Financial legacy and personal values are deeply intertwined¹. People want their wealth to stand for something – to reflect the effort it took to build it, and the lessons learned along the way. That’s why intergenerational wealth can be both powerful and delicate. Inheritance isn’t just a transaction; it’s a transition. The giver gradually let’s go of control, while the recipient steps into responsibility.  

Structures such as investment bonds can help guide this transition, allowing wealth to be passed on as intended –when, how, and even progressively – while giving families the space to have meaninful conversations and recipients the time to grow into custodians of that wealth. 

We often see this in families where parents are approaching retirement, and their children are already adults. The parents’ biggest question isn’t just about whether they’ve accumulated enough – it’s whether their children will truly understand what that wealth represents. Will it empower them, or distance them from the values that created it? 

With the support of a financial adviser, many families are approaching this discussion differently – shifting their focus from how much they will leave to the intent and the reasons behind their particular wealth transfers. They involve their children early, share the values behind their decisions, and structure the transfer in stages. Over time, children move from passive recipients to active stewards – learning, contributing, and eventually shaping the next chapter of their family legacy with the same care, intention, and values of those before them. 

Our Reimagining Legacy research confirms this shift: families are increasingly engaging in these conversations. More than 90% of Australians plan to share their wealth transfer intentions with their loved ones, and nearly two in three intend to transfer wealth while they’re still alive¹. This change matters. It reflects a growing desire to make their legacy more intentional and to share the “why” behind the money, so the next generation inherits understanding how it was built and why it should matter to them too. 

That’s intergenerational wealth at its best. Each generation doesn’t just inherit money; they inherit perspective.  

Investment bonds – Empowering wealth transfer certainty to create an enduring legacy 

Another key part of supporting this shift – and helping families have conversations about the “why” behind the money – is choosing the right structures. Not for complexity, but for the confidence and clarity they provide. Investment bonds are increasingly used in estate and succession planning because they offer families something they value most: a sense of certainty.  

Unlike traditional estate arrangements through a will, investment bonds can be structured as a non-estate asset, sitting outside a Will. This allows families to pass on wealth directly and reduces the risk of delays, disputes or unintended outcomes during what is often an already emotional time. For many, this certainty isn’t about control for its own sake – it’s about ensuring their intentions and values are passed forward. 

Investment bonds also allow wealth to be transferred thoughtfully. With Generation Life investment bonds, ownership can be passed to the next generation on a chosen date, either during life or after death, without creating unnecessary complexity. More importantly, they can be structured to guide how and when funds can be accessed in the future, supporting education, and long-term stewardship rather than a single moment of receipt. After all, passing on wealth isn’t just an event. It’s a journey.  

This flexibility is one reason investment bonds are increasingly being considered as a succession tool. They give families the flexibility and optionality to pass on wealth progressively and to create opportunities for conversations that build understanding alongside finances. In doing so, they help align outcomes with intent and the “why” of money – because what you pass on matters. 

Creating confidence through trust 

This is where financial advice, coupled with having the right structures — such as investment bonds — becomes invaluable. A skilled financial adviser and the right structure don’t just help optimise outcomes; they help facilitate conversations that families might otherwise avoid. They help align structures with intentions, and intentions with values. 

When a wealth transfer works well, it does more than just provide finances. It builds confidence, preserves relationships and creates continuity across generations. 

1 Funding a dignified retirement and leaving a legacy research summary, Generation Life and Core Data, 2023