Month: November 2025
Celebrity Estates: The Estate Lessons Behind Jean-Michel Basquiat with Doug Woodham

Celebrity Estates: The Estate Lessons Behind Jean-Michel Basquiat with Doug Woodham

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Stories about legacy often reveal more than the moments that made someone known. 

In this episode of Celebrity Estates, author and advisor Doug Woodham joins the show to explore how Jean-Michel Basquiat’s unexpected passing set off a chain of estate challenges tied to illiquid assets, sudden value changes and family decisions.

Doug explains how the absence of a will, a large collection of artwork and a fast-rising market created valuation hurdles, tax pressure and liquidity strain. He also shares how disputes, incomplete records and shifting asset values shaped the long-term direction of the estate.

Join Senior Editor David Lenok and Doug Woodham, managing partner at Art Fiduciary Advisors, as they break down the estate lessons behind one of the most unusual art legacies in recent history.

Key takeaways include:

  • Illiquid assets, volatile markets and rapid posthumous value growth
  • Blockage discounts and how large holdings of one artist complicate valuations
  • Family dynamics, estranged parents and unexpected inheritance patterns
  • IRS disputes, liquidity strain and complex tax negotiations
  • How Basquiat’s sisters eventually managed a growing licensing business

Resources:

Connect With David Lenok:

Connect With Doug Woodham:

About Our Guest:

Doug Woodham is Managing Partner of Art Fiduciary Advisors and the former President of the Americas for Christie’s, the international auction house. Earlier in his career, he was a partner at McKinsey & Company, advising asset management and wealth management firms across the U.S., Europe, and Asia. He holds a Ph.D. in economics from the University of Michigan and is the author of Jean-Michel Basquiat: The Making of an Icon (Thames & Hudson; 2025) and Art Collecting Today: Market Insights for Everyone Passionate About Art (Allworth Press, 2017).
Celebrity Estates: The Lessons Behind Gene Hackman’s Estate with Victoria Gray

Celebrity Estates: The Lessons Behind Gene Hackman’s Estate with Victoria Gray

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On this episode of the Celebrity Estates podcast, Victoria Gray, founder and principal of Insight Art & Collectibles Advisory, once again joins WealthManagement.com Senior Editor David Lenok to examine the tragic and complex estate of actor Gene Hackman, a case where timing, trust gaps and estranged heirs collided.

From an $80 million fortune and a decades-old will to simultaneous death rules and charitable trusts, Victoria unpacks how not regularly updating the estate plan shaped the outcome. Drawing on her years advising fiduciaries and families, she explains why ongoing estate reviews, succession planning and clear documentation are critical to preserving both wealth and intent.

Key Takeaways:

  • The impact of failing to update an estate plan for nearly two decades
  • How simultaneous death laws can complicate estate distribution
  • The role of trusts in preventing intestacy and potential family disputes
  • The importance of successor trustees and contingency planning
  • How art, memorabilia and even Oscars factor into estate valuations.

Resources:

Connect With David Lenok:

Connect With Victoria Gray:

About Our Guest:

Victoria Gray is one of the art market’s most trusted and accomplished insiders, bringing more than two decades of high-stakes experience to the sale and stewardship of the world’s most coveted tangible assets. As the Founder of Insight Art & Collectibles Advisory, she serves a global clientele navigating the complexities of selling fine art, jewelry, watches, wine, classic cars, and other collectible property, ensuring every transaction is executed flawlessly, strategically, and to maximum advantage.

Before launching Insight, Victoria spent over 20 years at Bonhams, one of the world’s oldest and most prestigious auction houses, rising to Deputy Chairman of North America, while starting her career at Sotheby’s, a leading global auction house.

During her tenure, she served as Senior Vice President, Managing Director of the Valuations, Trusts & Estates Department, and Head of Office for Bonhams San Francisco. She also built and led Bonhams’ Trusts & Estates presence in New York, forging deep relationships with elite trust & estate attorneys, fiduciaries, wealth managers, and family offices nationwide.