The passing of Valentino Garavani marks the end of an extraordinary chapter in fashion history. Best known for building one of the world’s most recognisable luxury houses, Valentino’s influence extended far beyond the runway, into business, branding, and long-term commercial value.
While public tributes focus on his creative legacy, his passing also raises important practical questions about estate planning, succession, and control, issues that are just as relevant to business owners and families here in Australia.
Success creates complexity
Valentino’s life was not simple, and neither are the estates of people who build significant wealth, businesses, or intellectual property over time. Growth and achievement come with added legal and financial complexity.
- Multiple assets across jurisdictions
- Business interests held through companies or trusts
- Valuable intellectual property and branding rights
- Long-term partners, chosen family, or blended family structures
Without clear planning, complexity can quickly become conflict.
Why “everyone knows what I want” isn’t enough
One of the most common assumptions we hear is that intentions are obvious – that loved ones “know” how things should be handled. Even close families can interpret intentions differently, particularly when valuable assets or control of a business is involved.
High-profile estates often end up in court not because there was no wealth, but because there was no clarity.
Business succession doesn’t happen automatically
For founders and business owners, estate planning must go hand-in-hand with succession planning. Key questions include:
- Who controls the business after death?
- Is ownership transferred, or management separated from ownership?
- Are there protections in place for continuity and stability?
- What happens if beneficiaries are not involved in the business?
Without documented structures, these decisions are left to default laws or distressed negotiations.
Privacy, protection, and planning ahead
Valentino stepped back from active creative control years before his passing – a reminder that planning doesn’t start at the end. Proactive estate planning allows individuals to:
- Make decisions while they have full capacity
- Protect partners and family members
- Reduce the risk of disputes
- Maintain privacy by avoiding court involvement
These benefits apply regardless of the size of an estate.
The practical takeaway
Thoughtful estate planning matters at every stage of life, not just for those in the public eye. If you own property, run a business, or care about how your assets are managed in the future, a clear and valid will, supported by appropriate structures is essential.
If your circumstances have changed, or your estate planning hasn’t been reviewed in years, now is the time to take a closer look.
At August & Claire, we help clients move beyond assumptions and put practical, legally sound plans in place that reflect their real lives, not just their intentions.
Contact our team today for guidance with Estate Planning on 02 4944 2008.