Beneath the Canopy - August 2025
- Robert Carson
- Aug 1
- 5 min read
When it comes to legacy, families inherit more than just assets- they often inherit the weight of expectation. But every family, and every fortune, asks its own questions about legacy. The Packer family’s latest move is a reminder that there’s more than one way to answer.
James Packer’s decision to step back and simplify his family’s business interests breaks from the notion of dynastic succession that once defined Australia’s richest households. No single heir to the family fortune; No ‘crown’ passed down. By ensuring his three children share his estate equally, he sends a clear message: what matters is not how you maintain a legacy, but how you shape it to suit the lives and values of those involved.
For many, the Packer name conjures images of high stakes negotiations and disruption of the establishment, regularly being written across the headlines of the daily press. Now, the story is changing. In a climate where legacy can sometimes become a burden, Packer has spoken candidly about the importance of individual freedom for his children. He wants them to be free to forge their own paths, no matter how different those paths may be.
Is this right for every family? Of course not. Some families find connection and meaning in tradition; others thrive through reinvention. The point is not to judge the approach, but to recognise that wealth stewardship evolves over time and adapts to context and personalities.
At Canopy East, we see these choices played out in big boardrooms and around kitchen tables. The Packer example reminds us that succession and legacy plans are successful when they feel true to your family’s values, not someone else’s script. The conversation becomes less about the division of assets, and more about making space for the next generation to thrive, however they choose to define it.
In this month's edition of "Beneath the Canopy"
When the Books Close
When a line is ruled under June 31st and the financial year comes to a close, it is
decision time for businesses. From celebrating successes to facing hard truths, this season sparks the biggest conversations about legacy, leadership and what comes next for families and family businesses.
Who is Really Holding the Keys?
When the time comes to pass the baton of a family's wealth, the question of who should take over control is never just about who is next in line. Nor is it a technicality- a line in a will or name on a trust deed.
Who has the capacity- not just in the legal sense, but the real-world ability- to steer the ship when it matters most?
Short-term Gain, Long-Term Pain?
In the current rush to reinvigorate Australia’s culture of giving, it’s hard not to be swept up in the positivity. Removing red tape and inviting a wider circle to the philanthropic table sounds like a clear net benefit. Yet, beneath the headline optimism, a more nuanced picture emerges-one with consequences that ripple beyond today’s increased distributions and into the very future of community funding.
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Speaking Engagements
Having advised families on their personal and family wealth for more than two decades, I am now available for speaking engagements to your family, your staff or your clients.
"How To Destroy Your Legacy in One Generation" is a dive into the behaviours that have been the cause of some of the world's greatest family financial disasters, and how to avoid the pitfalls that come with significant wealth.
Please contact me directly to discuss this opportunity.
From Chaos comes Clarity
In a family enterprise, financial decision-making is far more structured than in a typical household. With defined roles, responsibilities, and an investment policy guiding the process, the dynamics of who makes the financial decisions are shaped by governance frameworks rather than informal agreements. This formalised approach ensures that the family’s wealth is managed strategically and sustainably across generations.
Waiting for the Stars to Align? Your Family's Legacy might pass you by
There’s a particular moment in every family business journey when the question of selling the enterprise moves from the distant horizon to the kitchen table. It’s rarely a straightforward decision. In fact, for many Australian family business owners, the timing of a sale often feels completely out of sync with the business’s growth cycle, the prevailing economic winds, or the evolving plans and aspirations of the family itself. If you’re grappling with this conundrum, you’re not alone—and the path forward is rarely linear.
Why the Vatican's Conclave holds the Key to Family Successio
When it comes to leadership transitions, few events are as steeped in tradition and intrigue as the papal conclave. While the Catholic Church and wealthy families might seem worlds apart, the process of electing a new pope and planning for succession within a family business have more in common than you might think. Both are moments of significant change, requiring careful planning, clear communication, and a strong sense of shared values to ensure stability and continuity.
Creating a generational legacy? The secret is to give your wealth away
Philanthropy within a family isn’t just about giving—it’s about creating a shared sense of purpose, building stronger connections, and fostering a legacy that lasts well beyond financial wealth.
When families unite around common values and a desire to make a difference, they not only contribute to the greater good but also strengthen their relationships and lay the groundwork for managing wealth across generations.
Another election cycle ends. So too does the certainty for your charity
Election cycles are inherently unpredictable. While political parties campaign on promises to alleviate financial pressures or boost support for various sectors, the reality is that priorities often shift once a new government takes office. For charities, this can mean changes to funding streams, alterations in regulatory frameworks, or even the loss of critical programs.
'Looking East': Investment opportunities
Not investment Advice
As the global mood shifts on a daily basis following President Trump's tariff announcements early in the month, there is plenty of domestic commentary with the potential to overshadow Trump and his desire to appear as the headline news item on a daily basis in every country in the world.
Following the Federal election, the Australian Labor Party have been returned with an increased majority for another three years, which may give the environment a little more certainty...but perhaps only a little.
It looks unlikely the need for the government to negotiate their policies with minor parties in order to pass legislation, however questions remain if the Government will re-introduce stalled legislation to parliament in its original format.
Managers have been pushed aside by the public holidays during April, struggling to squeeze time with investors in the short working month. I am expecting this to change we push deeper into the final quarter of the financial year.
Here are few of the opportunities that I met with throughout the course of April:
Axon Capital Private Medical Property Trust - An investment in the Aurora Healthcare-managed Toronto Private Hospital, in Newcastle, NSW.
Fortitude Investment Partners Small Cap PE Fund- An Australian mid-market Private Equity opportunity across a range of Australian operating businesses
KKR Private Infrastructure Fund- A global infrastructure opportunity across a broadly diversified portfolio in an income generating, semi-liquid structure.
Please contact me should you wish to be introduced to any of the opportunities above.
Spread the Word
Canopy East is a unique offering for families - giving them an independent advocate to represent their financial interests.
Thank you for your support. Of course, we welcome any opportunity to discuss families who may need our assistance.
Please contact Robert to arrange a time to discuss his services further.
Robert Carson robert@canopyeast.com.au +61 406 934 231
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