Tag: high-net-worth
Dead Celebrity Ep 19 – Yul Brynner: Renouncing U.S. Citizenship — With David Lesperance

Dead Celebrity Ep 19 – Yul Brynner: Renouncing U.S. Citizenship — With David Lesperance

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What is it about the American tax system that’s compelling people to renounce their U.S. citizenship? Is there a better option for you and your money?

In this episode, WealthManagement.com’s senior editor, David Lenok, is joined by David Lesperance, a tax and immigration lawyer who has been helping people save their wealth from the taxman for over 30 years. Together, they explore the case of Yul Brynner, an award-winning film and stage actor who renounced his U.S. citizenship in 1965 for tax reasons. Since then, the number of wealthy Americans who’ve been using renunciation as a method of severing their U.S. tax liability has been increasing dramatically. Listen in to find out why and how people are resorting to this drastic option.

In this episode, you will learn:

  • Four reasons why there aren’t even more people renouncing their U.S. citizenship
  • What benefits expatriation can bring you in addition to tax savings 
  • What a back-up plan involves and what triggers people to use it
  • What is meant by “citizenship by investment”
  • And more!

Tune in now to discover what is involved in renunciation and why this move has gained popularity amongst Americans. 

Resources:

WealthManagement.com | Lesperance & Associates

 

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

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

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

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

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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