What the Murdoch Succession Battle Teaches Us About Estate Planning

Christina Wing
January 20, 2025

The Crain Currency article “Murdoch Succession Battle: Estate Planning Lessons for Multi-Gen Wealth” by Andrew Cohen explores the complexities of family business succession, using Rupert Murdoch’s high-profile legal disputes as a backdrop. Wingspan founder, Christina Wing, was interviewed for the piece, offering her insights on the challenges multigenerational families face when planning for the future.

The Nevada court ruling that upheld the structure of the Murdoch family trust highlights the tension between past decisions and evolving priorities in family business succession. Originally, Rupert Murdoch signed an irrevocable trust that divided control of his media empire equally among his four eldest children. However, he recently sought to amend the trust to grant Lachlan Murdoch ultimate control, citing Lachlan’s alignment with the conservative editorial slant of Fox News. Rupert argued this would protect the empire’s financial interests and ensure continuity of its values, contrasting sharply with the more liberal-leaning beliefs of his other children.

Blended family dynamics further complicate succession planning. A lack of transparency and communication among family members—especially in families with multiple marriages—can lead to conflict. Wing stressed the importance of proactive transparency from the person at the center of the family to maintain unity and minimize misunderstandings. “When there are many different spouses, it’s up to the one consistent spouse to provide transparency to all of his or her heirs because they are the only common person talking to them,” she explained.

Wing also pointed to the Walton family, of Walmart fame, as an example of successful governance. “They maintain control but leave the day-to-day operations to the management team. The family sits at the board level,” she said. This approach balances independent decision-making with family oversight, offering a model for families managing complex enterprises.

As the article notes, effective estate planning involves more than just drafting legal documents. It requires clear communication, shared purpose, and governance structures tailored to the family’s needs. Wing emphasized the positive impact of thoughtful planning: “Done well, great estate planning and great family communication can be such a positive. It can really enhance relationships, not destroy them.”

The Murdoch family’s struggles serve as a vivid example of what can go wrong—and what can be learned—when managing wealth and family dynamics across generations. For a deeper dive into these lessons and more insights from Christina Wing, read the full article on Crain Currency.

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About Christina Wing

Christina founded Wingspan Legacy Partners to help Founders and Families navigate the intersections between Family dynamics, business operations, wealth, legacy and philanthropic impact.