Inherit Parenting / Adopt Child / Steal Child from another object

This is a simple but useful idea. Sometimes I want to change the parent from multiple objects - and some of the objects have child of their own.

What if we could select “New object X”, then “Old Object with Child” and > Inherit Parenting Structure / Steal Child Properties (or some other name) so every object that is patented to that object would automatically parent to the new one keeping the transformation?

That would be very useful when working with complex assets with cables and screws.