David Lenok is a senior editor for Wealthmanagement.com and Trusts & Estates. He's an attorney admitted to practice in New York and writes about general wealth planning issues.
Former Denver Broncos owner Pat Bowlen left ownership of the NFL team to three trustees. They're tasked with finding the next owner of the team, which may or may not be one of Bowlen's children.
What clients can learn from Musk's story about transferring wealth strategically to take care of family members and the creative use of family foundations to make tax-efficient charitable donations.