Tag Archives: dividing your estate

Ep 31 – Death, Taxes, and Elvis Presley — With Paige Goepfert



You work hard for your money, so don’t let the government take it all when you die. 

This is exactly what happened to one of the most significant cultural icons of the 20th century, Elvis Presley.

In this episode, David Lenok speaks with Paige Goepfert of Andersen Global to explore the financial mishaps of the late and great Elvis Presley. Through the American singer’s story, David and Paige highlight key takeaway lessons that can help you better prepare your finances for your death.

In this episode, you will learn:

  • The many ways tax planning can help you reduce your estate’s tax bill
  • How Elvis was misled about his finances
  • Ways can interest rates aid in your planning
  • Why 2020 could be to best year to become more charitable
  • And more!

Tune in now and learn about the importance of tax planning and how it affects your financial future!

Resources:  WealthManagement.com | Andersen Global


Ep 30 – Kenny Rogers: Knowing When to Hold ‘Em (Top Prenup Tips for Advisors)



Most people believe their marriages will last forever. But whether their marriage endures or ends, it’s in your clients’ best interests to have a prenuptial agreement –– especially if the split isn’t amicable

In this episode, David Lenok, senior editor at WealthManagement.com, talks with Aviva Pinto, a managing director at Wealthspire Advisors. This episode is inspired by American singer-songwriter Kenny Rogers, who was famously married five times and had five children with four different partners. Now, Aviva and David dive into The Gambler’s finances and marriages to discuss how to help your clients get a prenup in order and navigate a divorce. 

In this episode, you will learn:

  • Why having a prenup would have saved Kenny Rogers a lot of money
  • How to broach the subject of prenups with your clients
  • Whether there’s room for flexibility in prenups
  • How to help your clients talk to their spouses about doing a prenup
  • Why the state you live in is important when it comes to splitting marital assets
  • And more!

Tune in now for tips to help your clients get onboard with doing a prenup.

Resources:   WealthManagement.com | Wealthspire


Dead Celebrity Ep 18 – Mickey Rooney: Elder Abuse and Preventing Post-Death Litigation — With Vivian Lee Thoreen



Sponsored By: FS Investments

Numerous post-death estate-litigation cases happen across the U.S. every day. How will you help your clients understand their estate planning decisions and ultimately prevent post-death litigation?

In this episode, David Lenok, WealthManagement.com’s senior editor, is joined by the attorney who represented Mickey Rooney and his estate in his elder abuse and estate litigations, Vivian Lee Thoreen of Holland & Knight, to discuss how advisors can help clients make effective decisions about guardianship to protect their elderly clients and reduce the chance of post-death litigation. Together, they discuss the financial elder abuse and estate of actor Mickey Rooney, who spent the last years of his life living in pain and fear without a dollar in his wallet.

 In this episode, you will learn:

 What the different types of guardianship/conservatorship are;

  • Why it is important for elders to not delegate all of their responsibility away;
  • Why practical conversations about the division of the estate are important;
  • How common sense does not always apply in estate planning;
  • And more!

Tune in now to learn some tips to recognize elder abuse and help your clients reduce the chance of post-death litigation.

Resources:

WealthManagement.com | Holland & Knight

 


Dead Celebrity Ep 17 – Elizabeth Taylor: Going Deep With Your Philanthropy — With Bruce DeBoskey



Sponsored By: FS Investments

What kind of difference do your clients want to make in the world — and for themselves — with their philanthropy?

In this episode, WealthManagement.com’s senior editor, David Lenok, is joined by Bruce DeBoskey, president and founder of The DeBoskey Group. Bruce has dedicated his life to helping others maximize the impact of their philanthropic giving. Together, David and Bruce discuss the legacy of Elizabeth Taylor, one of classical Hollywood cinema’s most beloved stars, to serve as inspiration for teaching advisors how to help clients deepen their impact

In this episode, you will learn:

  • What role philanthropy can play in your clients’ financial plans
  • How to help your clients decide what kind of difference they want their philanthropy to make in the world and for themselves
  • Why clients will make a greater impact with their giving if they narrow their focus 
  • How multigenerational families, in particular, can benefit from having a mission statement to guide their philanthropic efforts
  • Why Bruce encourages his clients to “give while they live”
  • And more!

Tune in now and learn how to help your clients deepen their impact. 

Resources:

WealthManagement.com | The DeBoskey Group 


Dead Celebrity Ep 16 – Robert Mugabe: Help Your Clients Face their Estate-Planning Fears — With Jacqueline Bevilaqua



Sponsored By: FS Investments

There is a special kind of fear that estate planning brings out in many people. As an advisor, how will you help your clients move past this fear enough to do thorough estate planning?

In this episode, WealthManagement.com’s senior editor, David Lenok, is joined again by Jacqueline Bevilaqua of Katsky Korins to discuss how advisors can help clients push through their estate-planning fears. Together, they draw from the story of Robert Mugabe, former president of  Zimbabwe, who spent his life inspiring fear in others but was unable to overcome his own fear of estate planning. This conversation recommends approaches for advisors to take with fearful clients and advice for overcoming your own estate-planning anxiety. 

In this episode, you will learn:

  • How fear can impact an estate
  • Which aspects of estate planning tend to feel the most intimidating
  • What actions you can take to support and guide anxious clients
  • How to preserve relationships in a blended family after death
  • And more!

Tune in now and learn ways to support clients who are fearful of estate planning. 

Resources:  WealthManagement.com | Katsky Korins | jbevilaqua@katskykorins.com | Episode 7: Adam “MCA” Yauch: How to work with strong-willed clients — With Jacqueline Bevilaqua


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Dead Celebrity Ep 15—Jerry Weintraub: Modern Polyamory—With Kim Kamin



If you had a client with multiple spouses, would you know how to handle their estate planning? 

In this episode, WealthManagement.com’s senior editor, David Lenok, speaks with Kim Kamin, principal at Gresham Partners, about the success of Jerry Weintraub’s estate plan. Its success is notable given that this Emmy-Award winning producer, talent manager, and actor had lived with a long-term girlfriend while still staying married to his wife. Together, David and Kim discuss Jerry Weintraub’s story, the overlooked prevalence of polyamorous couples in today’s society, and considerations for advisors who are working with polyamorous clients.  

In this episode, you will learn:

  • About the many variations of modern polyamory
  • How to tactfully ask your coupled clients about their relationships 
  • Considerations that have to be made depending on whether the polyamorous relationship is a public or private arrangement
  • Ways to help your polyamorous clients dodge estate planning hurdles
  • And more!

Tune in now and learn how to help your polyamorous clients with their estate planning.

Resources:

WealthManagement.com | Gresham Partners | The Tools & Techniques of Estate Planning for Modern Families, 3rd Edition


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Dead Celebrity – Ep 12 – Jerry Buss: Make Succession Planning a Slam Dunk — With Sonya Mughal



Have you created a business that you want to outlast you? Do you know who would take over if something were to happen to you?

In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Sonya Mughal, COO of Bailard Inc. Together, they explore the estate of Jerry Buss, the legendary owner of the Los Angeles Lakers. Jerry Bus had a succession plan in place to cover his 66% ownership of the team: His six children equally inherited a stake in the business. But as you’ll soon find out, even the best-laid plans can crumble. 

In this episode, you will learn:

  • When to start the succession planning conversation with your client
  • How to allow a period of governance while the client is still the owner
  • What characteristics to look for in a successor and their team
  • And more!

Tune in and learn how to help your clients craft a slam-dunk succession plan.

Resources:  WealthManagement.com | Bailard


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Dead Celebrity Ep 10 – Robin Williams Planned It Right — With Guest Avi Kestenbaum



Sponsored by: Nationwide Advisory

You can have everything planned out, accounted for, and your family members will still find something to fight over once you are gone. 

In this episode of Dead Celebrity, by Informa WealthManagement.com, David Lenok and Avi Kestenbaum discuss the estate plan of beloved comedian and Oscar-winning actor Robin Williams. As you’ll soon find out, even the best of estate plans and legal advice can be a recipe for disaster when you have children from different marriages and a surviving spouse.

In this episode, you will learn:

  • The role of trusts 
  • The importance of preparing the proper documents
  • Why it’s crucial to update your information as your life changes 
  • How some people can be worth more once they are deceased
  • Whether David and Avi would consider Robin Williams’ estate plan to have been successful
  • And more!

Tune in and find out what went down in Robin Williams’ estate in this episode of Dead Celebrity!

Resources: WealthManagement.com | Meltzer, Lippe, Goldstein & Breitstone, LLP

Sponsored by: Nationwide Advisory


Dead Celebrity Ep 7 – Adam “MCA” Yauch: How to work with strong-willed clients — With Guest Jacqueline Bevilaqua



Sponsored By: FS Investments

Do you have co-owned assets, similar to how the three members of Beastie Boys co-own their music?

In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Jacqueline Bevilaqua, associate at Katsky Korins, about what was done correctly and incorrectly in the estate plan of rapper Adam Yauch ( ⅓ of Beastie Boys). As they examine Adam Yauch’s estate,  David and Jacqueline discuss how to delicately manage the challenges that often come with high-net-worth clients and what steps need to be taken before incorporating copyright into a will.

In this episode, you will learn:

  • Possible reasons why a copyright clause made it into Adam Yauch’s will, despite him being a co-owner of his artistic property 
  • How to work with strong-willed clients who insist on using their will to make a public statement
  • What to consider when incorporating copyright into a client’s will
  • What it means to help your clients “play the tape through” when they’re appointing guardianship — and why it’s important
  • And more!

Tune in now and know that you are the one who can “fight for the right” to protect your clients after death.

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


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Dead Celebrity Ep 4 – Joan Crawford’s Decision to Exclude Children From Her Estate — With Guest Dr. Stanley Teitelbaum, PsyD



Too many times we allow our emotions to get the better of us, leading us to make unfair or judgmental decisions. Will you use your estate plan to punish your heirs? Or will you choose to resolve issues before it’s too late?

In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Dr. Stanley Teitelbaum, PsyD. Together, they explore the estate of Joan Crawford, one of old Hollywood’s biggest stars. Up for discussion is Joan Crawford’s decision to deliberately exclude two of her children from her estate. Dr. Teitelbaum explains how estate planners and financial advisors can support clients who are tempted to make similarly harsh decisions.

In this episode, you will learn:

  • About the background of Joan Crawford, her relationship with her children, and her estate
  • How to help clients who are overly concerned about getting their children’s approval
  • How to determine if your clients would benefit from the support of a mental health professional
  • The benefits of sorting through your familial issues  
  • Possible options and alternatives for dividing your estate
  • And more!

Tune in to learn about Joan Crawford’s estate and how to help your clients resolve their family issues before it’s too late.

Resources: WealthManagement.com | Dr. Stanley Teitelbaum, PsyD