Melinda Gates and Bill Gates are revisiting their estates plans after their divorce.
Few people can call themselves millionaires.
Even fewer can call themselves billionaires.
Bill and Melinda Gates are two of these individuals.
According to a recent Page Six article titled “Melinda Gates could be angling to change kids’ $10M inheritance in split,” having massive amounts of money does not exempt one from family drama.
Melinda and Bill recently made headlines on May 3 when they announced their divorce.
This announcement came after 27 years of marriage and rumors of a connection between Bill Gates and Jeffrey Epstein.
Although matrimonial attorneys are common in divorce proceedings and conversations, the Gates divorce will include a much larger team of lawyers.
Melinda Gates has secured highly respected estate and trust attorneys as the couple negotiates their future.
The couple may have conflicting ideas about providing for their children.
Bill has indicated he plans to leave only a small portion of his $130 billion estate to each of this three children.
Although his children would not become billionaires from their inheritance, they would have comes away as millionaires.
The $10 million Bill planned to provide each of his children may be minuscule in comparison to his estate, but it is by no means pocket change.
Although estate planning is typically not included in separation agreements, doing so may allow Melinda to make changes to inheritance planning for their children.
If providing for her children is important to Melinda Gates, it makes perfect sense for her to secure the services of trust and estate planning attorneys.
The Gates family is not the first couple to navigate differences in divorce and estate planning.
Although you likely do not have billions of dollars, you still have a lot to lose if you fail to create an estate plan.
Reference: Page Six (May 17, 2021) “Melinda Gates could be angling to change kids’ $10M inheritance in split”