Tag: Celebrity Estates
Celebrity Estates: Simon Cowell and Disinheritance in Estate Planning

Celebrity Estates: Simon Cowell and Disinheritance in Estate Planning

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Simon Cowell, reality star and record producer, has an estimated net value worth of $600 million. How much of that will be left for his son? According to him, nothing.

Listen in as host David Lenok is joined by Thomas Kopelman, head of community at Estate Planning platform wealth.com and co-founder of All Street Wealth. Together, they discuss how Simon plans to handle his $600 million estate and the broader implications of disinheriting heirs. 

Cast your vote toward Simon’s decision as David and Thomas highlight:

  • The rationale behind Simon’s motives for his estate plans
  • “Affluenza”- a supposed psychological condition affecting wealthy individuals
  • Opinions on ‘disinheritance,’ the act of not passing wealth down to future generations
  • Estate planning decisions are personal, reflecting what is important to the individual
  • The importance of supporting children while alive rather than solely through posthumous financial gifts
  • And more

Resources:

Connect With Thomas Kopelman:

Connect With David Lenok:

About Our Guest:

Thomas is a financial planner, the co-founder of AllStreet Wealth, as well as a blogger, podcaster, content creator, Top 23 Millennial Advisor (Business Insider), and a Top Young Advisor to Watch in 2023 (FA Mag)

After graduating from Butler University, Thomas spent his entire career in the financial services industry as a financial planner. Thomas is passionate about helping millennials cut through the noise and figure out how to use their resources to accomplish what they truly want in life. 
Celebrity Estates: The National Football League and Lessons on Family Dynamics and Governance

Celebrity Estates: The National Football League and Lessons on Family Dynamics and Governance

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A close-knit network of family businesses, the NFL earns around $200 billion annually. On top of traditional family business within their individual branches, the NFL navigates those same financial planning connections between extended family members as well.

Join David Lenok and his guest Alvina Lo, chief wealth strategist at Wilmington Trust, as they delve into the complexities of the NFL as a family business, discussing succession planning, liquidity concerns, trust ownership, and potential private equity involvement. 

David and Alvina discuss:

  • What are the common challenges encountered with liquidity and succession planning in family-owned businesses
  • How do NFL families navigate governance and control issues within their organizations
  • What effects does trust ownership have on estate planning challenges within the NFL
  • What are the potential consequences of permitting private equity involvement in the NFL
  • And more

Resources:

Connect With Alvina Lo:

Connect With David Lenok:

About Our Guest:

Alvina Lo leads a national team of multidisciplinary experts who collectively offer objective and holistic advice to clients, with a specific focus on their wealth, family, and business concerns. The scope of advice encompasses family office services, financial planning, trusts and estates planning, tax planning, business succession planning, philanthropy, and wealth education for the next generation. Alvina and her team prioritize planning, and through their actionable advice, they guide clients from strategy through implementation.
Ep 48 – Hugh Hefner: Plan it and Communicate it –– With Robert Wermuth and Kevin Donohue

Ep 48 – Hugh Hefner: Plan it and Communicate it –– With Robert Wermuth and Kevin Donohue

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In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Rob Wermuth, senior partner and Kevin Donohue, partner at the Pennsylvania-based firm Legacy Planning about the intricacies of estate planning. 

Today’s celebrity estate example is brought to us by Playboy Magazine founder and figurehead Hugh Hefner. Through the use of trusts, prenups and taking care of business deals during his life, Hefner left his family and his legacy in a very good place to move on from following his death.

You will learn:

  • How advisors can help clients take advantage of estate planning-focused transactions during their lifetime
  • How planning around a family business in your estate helps avoid the most common conflicts that often arise
  • The benefits of allowing your assets to grow outside of your estate
  • And more!

Hugh Hefner knew what he wanted, and made sure everyone on his team knew it too! Tune in for more details!

Resources: WealthManagement.com | Legacy Planning