Tag: Wealth Transfer
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: First-Generation Wealth with George Stefanou

Celebrity Estates: First-Generation Wealth with George Stefanou

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Leon Spinks shocked the world in 1978 when, in just his eighth professional fight, he defeated Muhammad Ali to become the undisputed heavyweight champion, a victory still regarded as one of boxing’s greatest upsets. Yet, despite his early success and multimillion-dollar earnings, financial missteps and the long-term effects of brain injuries would take a heavy toll.

At his lowest point, Spinks worked as a janitor and fast-food worker in Nebraska. But with the unwavering support of his wife Brenda, he eventually found peace and stability in Las Vegas, where he remained a cherished figure in the boxing community until his death from prostate cancer at age 67.

Join WealthManagement.com Senior Editor David Lenok as he sits down with advisor and author George Stefanou for an insightful conversation on the unique estate planning challenges faced by first-generation millionaires.

Together, they explore the emotional complexities and generational tensions that arise when “old country” values meet modern American dreams—and how advisors can help families navigate the delicate balance between legacy, lifestyle, and long-term stewardship.

George shares insights into:

  • Challenges faced by first-generation millionaires
  • The emotional side of estate planning and the importance of family conversations
  • How heirs can avoid a ‘windfall mentality’ 
  • Strategies for fostering family cohesion and legacy
  • The expanded role of advisors, including the need for increased financial literacy
  • And more

Resources:

Connect With David Lenok:

Connect With George Stefanou:

About Our Guest:

George is a first-generation Greek-American and a 2023 & 2024 Forbes Best-in-State Top Next-Gen Wealth Advisor, serving as the financial guru behind “Two-Comma Wealth.” As a University of Central Florida alumnus and avid football fan, George brings a unique perspective to the world of personal finance.

Alongside his roles as a devoted husband to Kristin and father to Ella and Aubrey, George is a CERTIFIED FINANCIAL PLANNER™ professional who also holds the following advanced credentials: Certified Exit Planning Advisor (CEPA®), Certified Private Wealth Advisor® (CPWA®), Accredited Asset Management Specialist℠ (AAMS®), Chartered Retirement Plans Specialist℠ (CRPS®) and Chartered Retirement Planning Counselor℠ (CRPC®). Drawing on over 15 years of experience and thousands of diverse client interactions, George has developed a talent for humanizing finance, helping clients navigate the complexities of wealth management while empowering both investors and advisors.
Celebrity Estates: Gene Hackman and Estate Planning While in Cognitive Decline

Celebrity Estates: Gene Hackman and Estate Planning While in Cognitive Decline

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After four decades of acting and winning multiple awards, Gene Hackman was found dead in his home at the age of 95, along with his wife and primary caretaker, Betsy Arakawa. Forensics uncovered that his wife predeceased him, leaving him to struggle with Alzheimer’s alone before passing away one week later.

Join WealthManagement.com Senior Editor David Lenok, and Jackie Bevilaqua a partner at Warshaw Burstein, as they delve into the tragic and unexpected circumstances of Hackman’s final days, exploring pressing questions about elder care, cognitive decline and how to safeguard clients against unforeseen complications.

They discuss:

  • Challenges in estate planning for cognitively impaired clients 
  • The importance of ongoing revision and understanding of estate plans 
  • How societal shifts impact elder care and estate planning
  • The significance of community support systems in elder law
  • Legal nuances of simultaneous deaths and the implications for estates

Resources:

Connect With David Lenok:

Connect With Jacqueline Bevilaqua:

About Our Guest:

Mrs. Bevilaqua has focused her practice on trusts and estates law since 2013. She has a strong background in estate planning and estate and trust administration for a diverse clientele, particularly complex issues of gift, estate and trust taxation. She also has significant experience in international estate planning, foreign account tax act compliance, and pre-immigration tax planning.

In addition, Ms. Bevilaqua is well-versed in counseling nonprofit corporations on regulatory, governance and federal and state tax compliance matters.
68. Conrad Hilton and Advising First Generation Wealth Creators

68. Conrad Hilton and Advising First Generation Wealth Creators

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Conrad Hilton got his start in hospitality at his family’s general store in the New Mexico Territory. Years later, he established the largest hotel chain in the world, Hilton Hotels. After his death, Conrad left much of his estate to the Conrad Hilton Foundation — until his son decided to contest the will.

In this episode, David Lenok is joined by David Bokman, Managing Director and Head of Family Office Resource at Morgan Stanley Wealth Management, and Andrea Levine-Sanft, Managing Director and Co-Head of the Wealth and Estate Planning Strategy, in discussing first generation wealth management in comparison to inherited wealth.

David and Andrea discusses:

  • What makes financial planning for first generation wealth creators unique;
  • How generational wealth is passed down;
  • The major problems in creating a financial plan for first generational wealth;
  • The importance of communication between financial professionals;
  • And more.

Connect with Andrea Levine-Sanft:

Connect With David Bokman:

Connect With David Lenok:

About Our Guests:

David Bokman is a Managing Director and the Head of Family Office Resources for Morgan Stanley Wealth Management. Family Office Resources provides ultra high net worth clients a virtual family office experience, with world-class, comprehensive services including family governance and wealth education, philanthropy, estate planning, trust services, single family office advisory and lifestyle advisory.

Andrea Levine-Sanft is Managing Director and Co-Head of the Wealth and Estate Planning Strategy.  Andrea was formerly an Estate Planning Strategist in Morgan Stanley’s Private Wealth Management Division. Andrea advised Morgan Stanley’s ultra high net worth clients and their advisors on complex gift, estate and income tax planning matters.