The Selths believe their testamentary trust strategy will make it more transparent and equitable for all beneficiaries. “We had a will but it didn’t embrace everything we wanted. We knew where we wanted the money to go but we wanted to be sure the beneficiaries were our kids but that they were protected in the case of divorce.”..

Wran died in April last year (2014) aged 87 after suffering dementia. He left a fortune estimated to be worth up to $40 million, largely made up of an impressive property portfolio. This estate is at the heart of a dispute within his extended family. ..

Parents wanting to help children buy their first home, but who want to retain control, can buy a property in their name or that of a trust. The problem is at some point the property must be transferred into the son or daughter’s name…

There are a few lessons to be learnt from high-profile family disputes, including that of Gina Rinehart, according to lawyer Bernie O’Sullivan…