Tag: Succession Planning
Celebrity Estates: Lessons from Leonard Lauder’s Art Legacy with Oliver Pursche

Celebrity Estates: Lessons from Leonard Lauder’s Art Legacy with Oliver Pursche

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In this episode of Celebrity Estates, host David Lenok welcomes Oliver Pursche, senior vice president at Wealthspire Advisors, for a deep dive into the estate complexities surrounding Leonard Lauder’s famed art collection. From cubist masterpieces to staggering valuations, they explore how collectibles impact balance sheets, spark family conflict and raise nuanced estate planning questions.

Here’s what to expect from this episode:

  • The emotional psychology behind collecting and why it matters to advisors
  • How valuation types (fair market vs. insurance vs. resale) shape tax and succession planning
  • What advisors must know about collaborating with clients’ outside experts
  • Strategies to handle heirs with unequal interest in inherited collections
  • And more!

Resources:

Connect With David Lenok:

Connect With Oliver Pursche:

About Our Guest:

Oliver serves as an advisor based in the firm’s Westport, Conn. and New York offices and is an Accredited Asset Management Specialist (AAMS®). He joined the team with over 25 years in financial services, having worked with independent RIAs, regional Broker Dealers, banks and bank trust departments, and family and multi-family offices.

Before coming to Wealthspire, he worked at Bruderman Asset Management, where he served most recently as the interim Chief Market Strategist and Vice Chairman of the Board, and previously as Chief Executive Officer. While concluding his tenure at Bruderman, he simultaneously served as Chief Investment Officer and Chief Market Strategist at EsteV LLC. He has also held leadership positions at Gary Goldberg Financial Services, Trust Company of America, and Neuberger Berman.

Oliver is an experienced global macro market strategist with significant media and corporate communications experience, as well as a published author. Active in the industry and his community, he served on the Cherie Blair Foundation for Women Entrepreneurs Advisory Board, Westport Arts Center Board, and Harvard Business Review Advisory Board, among others.

Originally from Germany, Oliver has resided in Fairfield, CT since 1984 and likes to stay active by playing tennis, scuba diving, and participating in competitive trap and skeet shooting in his free time.
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.
Celebrity Estates: Kylie Jenner and Succession Planning for Business Owners

Celebrity Estates: Kylie Jenner and Succession Planning for Business Owners

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Kylie Jenner has been an influential figure since 2010 as a model, business owner and social media personality. The majority of her wealth comes from the sale of 51% of her cosmetics company for an estimated $600 million.

In this episode, David Lenok speaks with Brad Franc, Director of Business Law at Houston Harbaugh and author of The Succession Solution, about succession planning for business owners and the next step after leaving the company.

Brad discusses:

  • The first steps in building a succession plan;
  • How the core values of a business owner impact the foundation of succession planning;
  • Potential roadblocks impeding a succession plan and how to transform those problems into opportunities;
  • The importance of setting a plan in place regardless of how many changes may happen along the way;
  • And more

Resources:

Connect With Brad Franc:

Connect With David Lenok:

About Our Guest:

Practicing in the Business Law and Estates and Trusts Groups, Brad works extensively with private business owners, affluent individuals, closely held businesses, and technology-based firms to strategically integrate business, estate, and charitable planning objectives. For many closely- and privately-held business clients, he also serves as outside general counsel and advises on key initiatives such as business and strategic planning, commercial transactions, corporate governance, and estate and succession planning.
Celebrity Estates: Succession Planning Lessons From The British Royal Family

Celebrity Estates: Succession Planning Lessons From The British Royal Family

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The Windsors maintain a rigid estate and succession plan that’s been (in some cases, quite literally) written in stone for hundreds of years. With the recent passing of Queen Elizabeth II, it’s an opportune time to ask: What can planners learn from such an impossibly rigid, yet simultaneously extremely transparent ‘plan’?

In this episode, David Lenok is joined by Tim Volk, Founder and Managing Director of T. Volk and Company, in discussing the repercussions of such a plan, including the importance of considering the age of the ‘next generation’ in light of ever-increasing longevity and the important distinction between adultship and eldership.

Tim discusses:

  • How a delay in the exit of the head of the family impacts the succession plan of the next generation;
  • When do individuals need to move from adultship to eldership;
  • How longevity impacts who inherits the estate (and when);
  • The problem of entitlement in succession planning;
  • And more

Resources:

Connect With Tim Volk:

Connect With David Lenok:

About Our Guest:

Timothy J. Volk, CFP, is the architect of a highly successful entrepreneurial career encompassing independent advisory, strategic planning, and financial services (banking, wealth management, insurance, and real estate) and is driven by his core values of family, community, and responsible stewardship. As principal of T. Volk & Co., he leverages his experience in a successful legacy family business and provides prudent and trusted counsel to families striving to protect their enterprises and preserve their wealth.