What will tomorrow’s budget mean for inheritance taxes and succession planning? [Video]

ON A SUPERFICIAL level, Rupert Murdoch might look like he has an enviable life but if I were asked to put my hand up to swap places with him, I would keep my arms fastened to my side.

And this isn’t due to his billionaire status (obviously), his conservative political views or the fact that he’s had more marriages than I’ve had cars.

It’s because of the massive headache he is enduring due to the succession planning issues that are currently playing out in a small courtroom in Reno, Nevada. Murdoch had set up a trust for the benefit of four of his six children and now wants to make changes to give full control to his son Lachlan rather than his four eldest kids share control equally. 

2014 file photo, News Corp. Exeuctive Chairman Rupert Murdoch, center, and his sons, Lachlan, left, and James Murdoch. Alamy Stock Photo Alamy Stock Photo

But this seemingly simple change is not …