One of Australia's richest men, Paul Ramsay, sadly passed away last week and it has been revealed that the bulk of his estate is to be left to charity, reports the Sydney Morning Herald.
Paul Ramsay was the founder and major shareholder of Ramsay Health Care, which operates a chain of private hospitals. He was not married and had no children.
Following his death, the company has announced that the majority of his shareholding, which is thought to be worth around $3.3 billion, is to pass to his charitable foundation, the Paul Ramsay Foundation. In addition, the foundation will also receive the majority of his wider estate.
Speaking to the Sydney Morning Herald, a spokesperson for Philanthropy Australia described the bequest as "the biggest single charitable donation in Australian history".
A Will is a very effective way to leave money to charity, and many people choose to include a bequest to their favourite charitable cause as part of their estate planning activities. If you would like to discuss the possibility of including a charitable bequest in your Will, then Szabo and Associates Solicitors can help.
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