Liliane Bettencourt, the richest woman in the world, died last week at the age of 94. For those that didn’t know her, Liliane Bettencourt was the heiress of the L’Oréal cosmetics company (the founder’s daughter).
Her net worth was estimated at around $44 billion, more than Mark Zuckerberg but less than Bill Gates and a few other male millionaires. Her passing is a sad moment, but it does manage to teach us a few things.
At this time, the Bettencourt family owns around 33% of the L’Oréal group, and this means that most of the money will presumably end up going to her family. However, her estate didn’t offer any press release for the moment.
Liliane Bettencourt stepped down from the company board just a few years ago, when she was 89. At that time, she was replaced by her grandson, all while constantly trying to succeed in a legal battle against her daughter.
Hence, it’s pretty hard to know where the money will go and how her children and grandchildren will split such a large estate.
With estate planning, you will always be prepared for any problems like this. Everything will be planned beforehand, so there will be fewer chances of failure or family fighting. But the best part is that your children will know exactly what your wishes are.
A lack of estate planning will just lead to confusion and legal hassle within your family.
If you should learn anything from Liliane Bettencourt’s fate, it should be to prepare for the death of a loved one beforehand to avoid any risk and ensure you are protecting your family in the best ways possible.
In the end, estate planning offers you peace of mind, and it will also protect your family against any problems.
Don’t leave your family’s financial future in disarray, act now and work with one of our attorneys at My Pink Lawyer®!