Tag Archives: WealthManagement

Ep 34 – Luke Perry: Replenishing the Earth in a Mushroom Suit



In this episode, David Lenok, senior editor at WealthManagement.com, is joined again by Megan Gorman, founder of Chequers Financial Management, to discuss the perfection that was Luke Perry’s estate and funeral plan.  

American actor and teen idol, Luke Perry, was best known as “bad boy” Dylan Mckay on the TV series Beverly Hills, 90210. When you hear about Luke’s funeral instructions –– including his desire to be buried in a biodegradable mushroom suit –– it will become clear that he was a deep thinker who advisors can learn from when helping clients plan their funeral. 

In this episode, you will learn:

  • Why Luke Perry is an estate planning role model 
  • Why green funerals are a growing industry
  • Cost-effective and personal ways to plan a funeral
  • How to plan for and fund the expense of a funeral, as to not burden those left behind
  • Why advisors conversations with clients about funeral arrangements must go beyond discussing burial versus cremation
  • And more!

Learn how to help your clients plan for the end of their story!

Resources:  WealthManagement.com | Chequers Financial Management


Ep 33 – Sammy Davis Jr: An Insolvent Estate Is Not How You Want To Be Remembered



When you realize your client is living beyond their means and creating nothing but headaches for the executor of their estate, how can you help?

In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Mark Brandenburg, an attorney who focuses on estate planning, estate administration, and probate law.  

The celebrity example of today’s episode is Sammy Davis Jr., who was arguably the most famous Black entertainer of the 20th century. Together, David and Mark discuss Sammy Davis Jr.’s estate to cast light on the issues that can arise from an insolvent estate.

In this episode, you will learn:

  • What is meant by “insolvent estate”
  • What happens when someone who dies owes money: How do people get paid and who gets their money first?
  • Whether payments to creditors can be negotiated
  • Whether executors can be held financially responsible
  • And more!

Tune in now to get ahead of an insolvent estate and the trouble it causes once a client is deceased.

Resources:  WealthManagement.com | Mark Brandenburg


Ep 32 – Jackie O: How the Underrated CLAT Can Help Wealthy Clients’ Heirs Save on Taxes –– With Carl Fiore



Are your clients charitably inclined, but also want to provide for their heirs? There may be a way to do both, while saving on taxes. 

In this episode, David Lenok, senior editor at WealthManagement.com, talks to Carl Fiore, a managing director in the Andersen U.S. National Tax office, about how wealthy people are saving their heirs from hefty taxes through the use of charitable lead annuity trusts (CLATs) and grantor retained annuity trusts (GRATs). 

Former first lady Jacqueline Kennedy Onassis (aka Jackie O) was credited with popularizing the now widespread use of CLATs. As you will soon find out, allowing her children to decide whether the CLAT was actually funded or not wasn’t a mistake, but rather, savvy planning on Jackie O’s part.

In this episode, you will learn:

  • Background information on Jackie O and her savvy planning
  • What a CLAT is and how it is used as a tax-savings tool
  • Why it’s important to have growth outside of the estate
  • How public or private a CLAT is
  • And more!

Tune in now to learn how to use CLATs and GRATs to help your clients protect their heirs’ future financial growth. 

Resources:  WealthManagement.com | Andersen 


Ep 31 – Death, Taxes, and Elvis Presley — With Paige Goepfert



You work hard for your money, so don’t let the government take it all when you die. 

This is exactly what happened to one of the most significant cultural icons of the 20th century, Elvis Presley.

In this episode, David Lenok speaks with Paige Goepfert of Andersen Global to explore the financial mishaps of the late and great Elvis Presley. Through the American singer’s story, David and Paige highlight key takeaway lessons that can help you better prepare your finances for your death.

In this episode, you will learn:

  • The many ways tax planning can help you reduce your estate’s tax bill
  • How Elvis was misled about his finances
  • Ways can interest rates aid in your planning
  • Why 2020 could be to best year to become more charitable
  • And more!

Tune in now and learn about the importance of tax planning and how it affects your financial future!

Resources:  WealthManagement.com | Andersen Global


Ep 30 – Kenny Rogers: Knowing When to Hold ‘Em (Top Prenup Tips for Advisors)



Most people believe their marriages will last forever. But whether their marriage endures or ends, it’s in your clients’ best interests to have a prenuptial agreement –– especially if the split isn’t amicable

In this episode, David Lenok, senior editor at WealthManagement.com, talks with Aviva Pinto, a managing director at Wealthspire Advisors. This episode is inspired by American singer-songwriter Kenny Rogers, who was famously married five times and had five children with four different partners. Now, Aviva and David dive into The Gambler’s finances and marriages to discuss how to help your clients get a prenup in order and navigate a divorce. 

In this episode, you will learn:

  • Why having a prenup would have saved Kenny Rogers a lot of money
  • How to broach the subject of prenups with your clients
  • Whether there’s room for flexibility in prenups
  • How to help your clients talk to their spouses about doing a prenup
  • Why the state you live in is important when it comes to splitting marital assets
  • And more!

Tune in now for tips to help your clients get onboard with doing a prenup.

Resources:   WealthManagement.com | Wealthspire


Ep 29 – Arnold Palmer: Investing in Wine Could Be Your Clients’ Hole in One



Are your clients thinking about investing in wine? Wine is a true portfolio diversifier, but there are a few things your clients should know first. 

In this episode, David Lenok, senior editor at WealthManagement.com, talks to Tom Gearing, CEO and co-founder of Cult Wines Limited, about investing in wine. This topic is inspired by golf pro and entrepreneur Arnold Palmer, one of the first major celebrities to lend his name to a wine label. Arnold Palmer’s wine was widely accessible to the common wine drinker. Meanwhile, today’s conversation delves into the world of more expensive and valuable wines and how you can help your clients navigate these investable commodities.

In this episode, you will learn:

  • What a savvy entrepreneur and marketer Arnold Palmer was
  • Why you must do your due diligence if you’re advising a client who’s interested in investing in wine
  • Why wine is a true portfolio diversifier
  • What kind of timeline one could expect before seeing a return on investment
  • What the first steps are to investing in wine 
  • And more!

Tune in now to learn how to best advise clients who want to invest in wine. 

Resources:  WealthManagement.com | Cult Wine


Ep 28 – Debbie Reynolds, Carrie Fisher, and Billie Lourd: Estate Planning for Collectibles



Collectibles have different values depending on who collected them, who owns them, and who wants them. 

In this episode, David Lenok, senior editor at WealthManagement.com, talks again with Sarah McDaniel, a CFA and managing director who heads the Wealth Strategies Group and Advanced Planning Centers at Morgan Stanley. Together, they discuss estate planning for collectibles. David and Sarah explore the case of actor Billie Lourd, who not only inherited a bulk of her late mother Carrie Fisher’s and grandmother Debbie Reynolds’s estates but also their large collections of Hollywood memorabilia. 

In this episode, you will learn:

  • The story behind the building and selling of Debbie Reynolds’s and Carrie Fisher’s memorabilia collections
  • What issues clients face when planning for collectibles or passion assets
  • How capital gains tax can affect the selling of collections
  • Examples of how price permanence varies across collectibles
  • What to consider before leaving collectibles to a museum
  • And more!

Learn how to help your clients plan for their collectibles!

Resources:  WealthManagement.com | Sarah McDaniel on LinkedIn


Ep 24 – Albert C. Barnes: Wills of the Rich and Famous –– With Jacqueline Bevilaqua



It’s surprisingly easy to have estate planning documents and wills modified or overturned. Can your clients be assured that their estate planning documents will be enforced after they’re gone?

In this episode, David Lenok, senior editor at WealthManagement.com, speaks with three-time guest, Jacqueline Bevilaqua, an associate at Katsky Korins, about what can happen to a trust and the client’s wishes after their death. The celebrity example in this episode is American businessman Albert C. Barnes, best known for his massively valuable art collection. 

In this episode, you will learn:

  • The story of how Albert C. Barnes’s wishes were blatantly disregarded over 50 years after his death
  • What kinds of estate-planning scenarios are less likely to get overturned or modified in the future
  • Whether making wishes known is enough to make them legal
  • How a trustee’s residential location can affect estate planning
  • And more!

Tune in now and learn how to help your clients ensure that their wishes will be carried out. 

Resources:  WealthManagement.com | Katsky Korins | jbevilaqua@katskykorins.com


Ep 22 – Steve Jobs: Dying with Digital Assets with Karin Prangley



Whether you know it or not, you have digital assets, your email, your photos, all your social media accounts. Those are your digital assets. What happens to those accounts when you die?

In this episode, David Lenok, senior editor at WealthManagement.com, is talking with Karin Prangley, Senior Vice President Private Wealth Management at Brown Brothers Harriman. The two dive deep into the topic of digital assets and estate planning loosely using the estate of Technology Legend Steve Jobs.  

In this episode, you will learn:

  • What is a digital asset, and how are they controlled
  • When and where to use a digital executor 
  • Why it is not as simple as having a username and password for the deceased
  • How your estate handles cryptocurrency
  • And more!

Tune in now and figure out the “need to knows” about digital assets and your estate plan.

Resources: WealthManagement.com | Karin Prangley LI


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



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