Tag: Student Athletes
Celebrity Estates: Steve Lockshin on Len Bias and NIL Deals in Estate Planning

Celebrity Estates: Steve Lockshin on Len Bias and NIL Deals in Estate Planning

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Len Bias was a star basketball player at the University of Maryland drafted by the Boston Celtics in 1986 and one step away from becoming a pro athlete. Unfortunately, he passed away just two days after being selected but before signing any MBS or sponsorship documents, leaving him and his family just out of reach of the riches he would have gotten due to the timing of his death.

With host David Lenok and special guest Steve Lockshin, founder of AdvicePeriod and a co-founder of Vanilla, an estate planning advisory platform, they unravel the nuances surrounding Name, Image, and Likeness (NIL) deals for athletes, the challenges and opportunities they present, and foundational estate planning strategies that every individual, regardless of fame, should consider. 

David and Steve discuss:

  • How do NIL deals affect young athletes’ financial and estate planning;
  • Why are wills, durable powers, and healthcare directives important for young adults;
  • Strategies to protect future earnings and assets through estate planning
  • What advice do advisors have for guiding young earners in estate and financial planning;
  • And more.

Resources:

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About Our Guest:

Steve Lockshin is an entrepreneur in the wealth management services industry. He built and sold RIAs and TAMPs. Now doing it again, Steve is a founder with a primary focus towards serving the ultra-affluent through effective estate and investment planning. He is a champion for technological advances in the wealth advisory industry while working towards improving transparency and supporting the fiduciary standard(+) and the author of Get Wise to Your Advisor.