In this podcast episode, Melbourne barrister Lachlan Wraith shares his insights on how family law can affect family businesses and the long-term preservation of family wealth. Lachlan discusses trusts, succession planning and family loans, and outlines practical considerations for business owners looking to protect assets and reduce future risk.
Podcast transcript
Lachlan Wraith is a barrister at the Victorian Bar with extensive experience in family law, trusts, estates and succession matters. He has a broad and practical understanding of the legal and taxation issues affecting family wealth, including trusts, estate administration and governance arrangements.
Lachlan works with families, business owners and advisers on matters involving family wealth, succession planning, trusts and family law, helping clients navigate complex legal issues and protect long-term outcomes.
At the time of recording, the cases of Woodcock & Woodcock (No 2) [2022] FedCFamC1F 173 and Caldwell & Caldwell [2025] FedCFamC1F 506 were still progressing through the courts and their outcomes remained uncertain. Since then, both matters have been finalised, meaning some of the commentary and predictions discussed in the episode may no longer reflect the current legal position. Woodcock ultimately resolved before a court determination was required, while the Full Court decision in Caldwell (Caldwell & Caldwell [2026] FedCFamC1A 81) has since been the subject of an application for special leave to appeal to the High Court.
One of the key takeaways from this episode is that the law is constantly evolving. Court decisions, legislative changes and further appeals can significantly alter the legal landscape, sometimes in a relatively short period of time. For that reason, listeners should not rely on this episode as a statement of the current law and should always seek up-to-date advice from appropriately qualified legal and tax professionals before taking any action.
This episode remains a valuable discussion of the legal issues and principles that were emerging at the time of recording, but the current position should always be confirmed with expert advice.
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Cases referred to in this episode
Kennon v Spry [2008] HCA 56; (2008) 238 CLR 366
http://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/HCA/2008/56.html
Caldwell & Caldwell [2026] FedCFamC1A 81 (11 May 2026)
http://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/FedCFamC1A/2026/81.html
First-instance decision: Caldwell & Caldwell [2025] FedCFamC1F 506
http://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/FedCFamC1F/2025/506.html
Woodcock & Woodcock (No 2) [2022] FedCFamC1F 173
http://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/FedCFamC1F/2022/173.html
