Lachlan Wraith is a Melbourne barrister who focuses on the wills and estates and family law space. He has worked extensively with families, business owners, and high net worth individuals to resolve disputes and manage the distribution of assets, drawing on both his legal expertise and his experience within the trustee company industry.

In this episode, Lachlan shares practical insights on how families can safeguard their businesses and wealth when personal relationships and business interests overlap. He unpacks what happens to a family business when a key relationship breaks down, the critical differences between how family courts and state courts treat trusts and property, and why binding financial agreements, clear succession planning, and properly documented "bank of mum and dad" arrangements matter. Above all, Lachlan makes the case that there's no one-size-fits-all approach, and that getting good advice early is the best protection of all.

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.

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