Family Wealth Succession in Australia: Trusts, Wills & Tax | Beibei Han

Family wealth succession is not a one-off legal document. It is an ongoing process that connects trusts, tax planning, wills, asset protection, family relationships and governance.

In this episode of the GloryHouse Podcast, GloryHouse Founder and CEO Garth Hu speaks with Beibei Han, Partner and Head of Asian Business Services at Grant Thornton Australia, about the succession issues high-net-worth families most often overlook.

Drawing on real cases, Beibei explains why planning should begin before a problem occurs. Once a family holds property, company shares, investment portfolios, trust assets or cross-border wealth, unclear control and outdated documents can create significant tax, legal and family friction.

The conversation examines how family trusts work in practice, including control, beneficiary arrangements, income distribution and asset ownership. Establishing a trust is only the first step; the structure should be reviewed as family circumstances, relationships and long-term objectives change.

Australia does not currently impose a traditional inheritance tax, but capital gains tax, asset transfers, trust distributions, company ownership and cross-border arrangements can still create complex consequences. Wills also need regular review so they remain aligned with current family relationships and asset structures.

About the Guest

Beibei Han is a Partner and Head of Asian Business Services at Grant Thornton Australia. She advises Australian and cross-border families, business owners and high-net-worth clients on tax, asset structures and succession planning.

About the GloryHouse Podcast

GloryHouse Wealth Management produces the GloryHouse Podcast for high-net-worth families, business owners and globally connected families, exploring wealth management, family succession, next-generation education and global investment.