Like many entrepreneurs, I’ve been watching the coverage of the case brought against Richard Pratt’s estate by a former mistress with fascination.
Tales of sex, drugs and slush funds are always titillating and with one of Australia’s best known families involved it is hardly a surprise that the case has got so much attention.
But after reading the salacious details, a thought struck me: What shape is my will and estate planning in?
While I don’t think my estate will face the same sort of issues that Pratt’s estate is confronting, I know it is important to ensure that my will is up-to-date and well thought out.
I want to be sure that when my number is called, the transition of my assets – particularly the massive fortune locked up in Taskmaster Enterprises – is as smooth as possible for my family and beneficiaries.
Your accountant and lawyer can help you get your estate planning up-to-date and will be able to ensure you regularly review your arrangements in light of any changes in your personal circumstances or legislation (such as tax laws).
Get it done – today!