Championing a collaborative approach
By combining its established estate planning and wealth protection team with a new family law team, Kalus Kenny Intelex hopes to encourage families to work cohesively under this new collaborative approach.
Intergenerational issues regarding succession planning, wealth retention, security for children and grandchildren, providing financial assistance to children to assist with home purchases, risk management arising from failed relationships, or failed business ventures are all intertwined.
Whether it’s children or parents entering into new relationships, relationship breakdowns, the transition of wealth to the next generation or simply giving family some assistance, and whether there is vast wealth or substantially less, providing as much security and direction as possible is on everyone’s mind. Every family is different and changing life and financial circumstances is a certainty.
A beneficial union
Kalus Kenny Intelex lawyers recognise the importance of taking a multidisciplinary and holistic approach. This ensures the various risks, opportunities and obligations are taken into account from all perspectives, creating solid and secure outcomes.
The firm has launched a unique combined practice between the established estate planning and wealth protection team and its new family law team.
Partner and head of estate planning, Kimi Shah, explained: “We find that a collaborative offering is useful for clients as many of the issues arising in family law concern succession law, and vice versa.
“The objective of the collaborative approach is to prevent disputes and encourage families to work cohesively in establishing structures, negotiate outcomes and communicate their ongoing decisions.”
In the past year, Kalus Kenny Intelex has dealt with a number of matters which benefited from that collaborative approach. While each situation is unique, what has been critical to successful outcomes is the ability for its lawyers across family law, estate planning and litigation to collaborate, to consider every perspective, and to achieve optimum outcomes.
Many family law matters involve assets in dispute that are held in discretionary trust structures. With blended families benefitting from these trusts, it is important to ensure protection from both the family law and the trusts law perspectives, safeguarding the wealth for intended beneficiaries.
Similarly, when planning for the succession of businesses which are run within family discretionary trusts, it is important to bear in mind any family law issues which may arise, such as the prospect of future relationship breakdowns, and the introduction of new domestic partners to any generation.
Head of family law Josephine Sergi explained: “With more clients requiring assistance with complex needs and blended families, our extensive experience in both family law and succession planning ensures that clients obtain the best advice from both aspects. We also work closely with the broader, specialised resources in property law and commercial law.
“The vulnerability of assets held in trusts and the distribution of wealth within families in the context of a family breakdown or potential family breakdown is significant. Looking at these through a family law lens early, and at different stages, is key to maximising positive outcomes.”
A tailored approach
Kalus Kenny Intelex tailors their advice to each unique situation and includes all aspects of family and private wealth. This may include divorce and separation, property protection and division, complex business and trust structures, intergenerational structuring or financial agreements – before, during and after a relationship. Then there is the estate and succession planning side, which could include anything from wills and powers of attorney, through to guardianship, probate and estate or trust disputes.
“Our clients, their lives, families and all the things that these encompass are at the heart of what we do”, said Shah. “Overlaying all of this is the high priority given to getting to know our clients and their unique personalities and circumstances.”
Kalus Kenny Intelex was recently recognised as one of Australia’s fastest growing law firms by Australasian Lawyer. The firm is a leading private client firm representing high-profile Australian and international clients across property transactions and development, commercial transactions and advisory, structured finance and investment, and commercial litigation. The firm has significant expertise in family law, wills and estates, and trusts. It has a wealth of experience in private client enterprise across many industry sectors.
The firm regards it as an enormous privilege to be trusted advisers to many of Melbourne’s entrepreneurial families and successful businesses, across all generations.
For more information on Kalus Kenny Intelex Lawyers, call (03) 8825 4800 or visit kkilawyers.com.au.
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