Celebrity Estates – Page 7 – Celebrity Estates: Wills of the Rich and Famous

Ep 27 – Amy Winehouse: Reasons to Work With Millennial Clients (And How to Get Started)

By deadcelebrity | June 15, 2020

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The millennial generation is simultaneously the most talked about, sought after, and yet curiously underserved demographic in the financial planning industry.

In this episode, David Lenok, senior editor at WealthManagement.com, is joined by Douglas Boneparth, founder of Bone Fide Wealth. They discuss how today’s financial advisors can appeal to millennials –– and why bringing in younger clients is a worthwhile pursuit. This topic is inspired by Amy Winehouse, a Grammy-award winning singer-songwriter who died at 27 years old. Amy did not have a will. Her after-tax assets went to her parents, and her ex-husband is making a $1.4 million legal claim on Amy’s estate in a case that has yet to be adjudicated.

In this episode, you will learn:

The story of Amy Winehouse: how her lack of planning and early death impacted her estate
Why advisors are struggling to connect with millennials
What this generation is looking for when it comes to their financial lives
Reasons to empower young advisors to pursue millennial clients
How to link millennials’ experiences to their most relevant financial planning tasks
And more!

Tune in for actions you can take immediately to start attracting millennial clients.

Resources: WealthManagement.com | Bone Fide Wealth

Episode 26: How to Make Your Family Business Last –– With Mitzi Perdue

By deadcelebrity | June 1, 2020

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Only one-third of family businesses make it to the next generation. What are you doing today to help your family business last?

In this episode, David Lenok, senior editor at WealthManagement.com, has the pleasure of speaking with Mitzi Perdue, a businesswoman, author, and professional public speaker. Mitzi is also the daughter of Sheraton Hotel’s co-founders and wife to the late Chicken icon Frank Perdue. Now, Mitzi shares advice on how to develop a family culture that supports keeping the business in the family.

In this episode, you will learn:

What advisors need to focus on to encourage long-term family business success
Why Mitzi recommends hosting endowed family vacations
The purpose of an ethical will
Tips for creating an inclusive family culture
And more!

Tune in now for this heartwarming conversation that’s filled with practical advice on how to develop your family’s culture.

Resources: WealthManagement.com | Mitzi Perdue | How to Make Your Family Business Last by Mitzi Perdue

Ep 25 – Prince: Nothing Compares 2 Having a Proper Estate Plan

By deadcelebrity | May 19, 2020

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Your clients’ beneficiaries will have a lot of unintended expenses if your clients don’t take the right estate-planning steps –– especially if the plan is nonexistent.

In this episode, David Lenok, senior editor at WealthManagement.com, speaks with returning guest Megan Gorman of Chequers Financial Management about what happens to an estate when there is no plan in place. Using the ongoing legal battles around musician Prince’s estate as an example, they dive into the importance of having a plan.

In this episode, you will learn:

The story of Prince, his estate, and his lack of a plan for after death
Why some wealthy individuals choose revocable trusts
What might have deterred Prince from creating an estate plan
How to keep information about your clients’ assets private after death
Estate planning steps that would have reduced Prince’s beneficiaries’ emotional and financial costs
And more!

Tune in now for the long-awaited Celebrity Estates episode about Prince!

Resources: WealthManagement.com | The Wealth Intersection | Chequers Financial Management

Ep 24 – Albert C. Barnes: Wills of the Rich and Famous –– With Jacqueline Bevilaqua

By deadcelebrity | May 11, 2020

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It’s surprisingly easy to have estate planning documents and wills modified or overturned. Can your clients be assured that their estate planning documents will be enforced after they’re gone?

In this episode, David Lenok, senior editor at WealthManagement.com, speaks with three-time guest, Jacqueline Bevilaqua, an associate at Katsky Korins, about what can happen to a trust and the client’s wishes after their death. The celebrity example in this episode is American businessman Albert C. Barnes, best known for his massively valuable art collection.

In this episode, you will learn:

The story of how Albert C. Barnes’s wishes were blatantly disregarded over 50 years after his death
What kinds of estate-planning scenarios are less likely to get overturned or modified in the future
Whether making wishes known is enough to make them legal
How a trustee’s residential location can affect estate planning
And more!

Tune in now and learn how to help your clients ensure that their wishes will be carried out.

Resources: WealthManagement.com | Katsky Korins | jbevilaqua@katskykorins.com

Ep 23- George Steinbrenner and the Value of Flexibility –– With Amy Castoro

By deadcelebrity | April 27, 2020

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Are you willing to let your children take the reigns of the family business? Giving your children the space to try and make their own mistakes as they learn will help you identify who is ready to take on the family business.

In this episode, David Lenok, senior editor at WealthManagement.com, speaks with returning guest Amy Castoro, president and CEO of The Williams Group, about what advisors can do to help high-net-worth parents to prepare their children to inherit wealth. David and Amy discuss the Steinbrenner family and the approach they took to allow their children to succeed in their way, which allowed them to rise to the top and step in for dad when needed.

In this episode, you will learn:

Life changes – why staying flexible is essential for success
When working with the next generation, helping them focus on how they can contribute to the business yet maintain their own identity
Why providing guidance and allowing the opportunity to make mistakes is crucial to learning
And more!

Tune in now and learn how to help your children get excited about the business and find their way to contribute!

Resources: WealthManagement.com | The Williams Group

Ep 22 – Steve Jobs: Dying with Digital Assets with Karin Prangley

By deadcelebrity | April 13, 2020

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Whether you know it or not, you have digital assets, your email, your photos, all your social media accounts. Those are your digital assets. What happens to those accounts when you die?

In this episode, David Lenok, senior editor at WealthManagement.com, is talking with Karin Prangley, Senior Vice President Private Wealth Management at Brown Brothers Harriman. The two dive deep into the topic of digital assets and estate planning loosely using the estate of Technology Legend Steve Jobs.

In this episode, you will learn:

What is a digital asset, and how are they controlled
When and where to use a digital executor
Why it is not as simple as having a username and password for the deceased
How your estate handles cryptocurrency
And more!

Tune in now and figure out the “need to knows” about digital assets and your estate plan.

Resources: WealthManagement.com | Karin Prangley LI