Looking for expert advice during major life changes? You’re not alone. Whether it’s buying a home, starting a business, or planning for retirement, the right guidance from an accountant, financial adviser, or solicitor can mean the difference between financial stress and long-term success.
In this article, we outline seven important life events where getting professional advice is not just helpful—it’s essential.
1. Starting or Growing a Business
If you’re launching or scaling a business, expert advice can protect your finances and reduce legal risks.
Accountant: Helps you choose the best structure (sole trader, partnership, or company), register for GST, and manage cash flow.
Solicitor: Drafts contracts, protects your intellectual property, and ensures legal compliance.
Why you need advice: Early mistakes in business setup or tax compliance can be costly and difficult to fix later.
2. Getting Married or Entering a De Facto Relationship
Combining your finances is more than just sharing a bank account.
Financial Adviser: Helps create a joint financial plan, set savings goals, and align superannuation strategies.
Solicitor: Can draft a binding financial agreement to protect both parties if things don’t go to plan.
Advice benefit: Clarifies expectations and reduces the risk of future disputes.
3. Buying or Selling Property
Real estate decisions often involve your biggest financial commitments.
Accountant: Explains tax implications, like capital gains and negative gearing.
Solicitor: Handles conveyancing, reviews contracts, and protects your legal interests.
Why seek advice: Property mistakes are expensive—professional support keeps things compliant and stress-free.
4. Receiving an Inheritance or Windfall
An inheritance can create unexpected tax, legal, and investment issues.
Financial Adviser: Helps you invest the funds and align them with your long-term goals.
Accountant: Advises on tax treatment of the inheritance.
Solicitor: Assists with probate, trusts, and estate distribution.
Advice advantage: Avoids common pitfalls like tax penalties or poorly managed investments.
5. Changing Jobs or Starting a Side Hustle
Career changes often affect your financial and tax situation.
Accountant: Assists with PAYG withholding, tax deductions, and ABN setup.
Financial Adviser: Helps with budgeting, salary packaging, and superannuation strategies.
Get advice early: Small changes now can lead to major long-term gains.
6. Planning for Retirement
The earlier you seek retirement advice, the better prepared you’ll be.
Financial Adviser: Helps with superannuation, pensions, and goal setting.
Accountant: Ensures your contributions and withdrawals are tax-efficient.
Solicitor: Updates your will and ensures powers of attorney are in place.
Advice outcome: Peace of mind for your future, with a plan tailored to your lifestyle.
7. Separation, Divorce or Bereavement
These are emotionally and financially complex situations—expert advice is vital.
Accountant: Assists with tax implications of asset splits.
Financial Adviser: Helps you rebuild financially.
Solicitor: Protects your legal rights during family law proceedings or probate.
Professional advice helps: You focus on healing while your team handles the rest.
The best advice is proactive, not reactive. Involving your accountant, financial adviser, or solicitor before a major life event gives you clarity, confidence, and often, significant financial benefits.
Need Expert Advice You Can Trust?
At Holzworth Partners, we help individuals and families navigate life’s most important moments with tailored accounting, financial, and legal solutions.
👉 Book a free consultation today and get the advice that puts you ahead.
