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

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

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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

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

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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 

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

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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

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

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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