Michael Grant, Trusted Legacy Strategy Planner For Successful Business Owners, is interviewed by television news presenter and reporter Amber Sherlock of TV’s Nine News. They discuss success stories of clients he’s worked with who have followed his approach to legacy planning.
Transcription
Amber Sherlock: Can you take us through one or two success stories of clients that followed that approach?
Michael Grant: Yes. Look, I have one client that I’ve acted for over 20 years. He’s in his early seventies, and he still races cars at 240 kilometres per hour. He’s amazing, quite an inspiration. He has built and sold several businesses and is still managing one. He’s also built a substantial asset portfolio. He loves property. He’s one of the canniest investors I’ve ever seen. But his biggest passion is his family. And his focus in life is to make sure that their welfare and happiness is a priority for him.
Every year he spends four to six weeks in freezing cold in North America so that his wife can go back and spend time with her aging mother and her sister and her wider family that live in America. But he also has a blended family, which means that the family dynamic at sometimes can be a little bit complicated and he’s always managed those complications and issues with fairness and quiet dignity. But one thing he expressed to me a couple of years ago was that he was very concerned that when he was gone that the family dynamic might be severely disrupted cause he won’t be around and manage those issues anymore. So we had a bit of a chat about legacy planning and he decided to do the work. So that was two years ago we started and we’re still going, but we’re nearly done now. We are in a situation where he and his wife finally in agreement about where things, their actual goals in terms of what they want to achieve in the next 20 years, but also on the outcomes for the various members of the family.
And because they’re in agreement with that, they were able to then get me to brief their lawyers to be able to document legal agreements and do all that stuff to make it, to put it into the boxes that need to be put into. So that we’re at now is very important stage and that is to communicate their plan and those outcomes to their family directly. And so what I do is I’ll help them facilitate that family meeting. And the really good thing is that he is very confident now. All the work he’s done and what we’ve done together, that the family will accept the plan that they’ve put in place for themselves and the outcomes for the rest of the family. And so that this big fee that he had just never will be realised.
