Named the Greatest Rock Star Ever after his death, David Bowie is a singer, songwriter and actor who left his mark on the world along with a $100 million dollar estate at the time of his death.
Recently, his music catalog sold for a reported $250 million, higher than his initial estate value.
In this episode, David Lenok is joined by Stacie Jacobson, director of the wealth strategies group at AllianceBernstein, diving into the complexity of a music catalog as an asset for both the seller and buyer, along with details of the planning required before and after the transaction.
The difference between a musician’s catalog and their other traditional assets;
The impact of interest rate environments on unique investments;
Why music catalogs are traditionally sold as one unit over individual songs; and
How artists plan for selling their music catalog after they are gone.
Stacie works with athletes and entertainers on a variety of investment planning issues including multi generational wealth transfer, pre-transaction planning, charitable giving, retirement planning and asset allocation.
Pat Bowlen was an American lawyer and partial owner of the Denver Broncos, along with his two brothers and sister. He served as the Broncos CEO until July 2014, when he stepped down due to progressive effects of Alzheimer’s disease, and passed away in 2019. His estate plan was unique due to the family trust in place, with the three trustees taking over in 2014 with the sole purpose of determining the next owner of the team.
In this episode, David Lenok is joined by Dan Griffith, senior vice president and director of wealth strategy at Huntington Private Bank, to review the estate planning of Pat Bowlen and how the trust came into effect. He reveals why business owners are forced out more often than retire and how to choose the best advisors to address your estate planning needs.
Why choosing a new owner for the Broncos caused issues among Pat’s descendants
How choosing trustees before you are incapable benefits your estate plan
The importance of choosing trustworthy and good advisors for an estate plan
Why it is difficult to simply retire as a business owner