Tag: family business

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

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

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