Lessons from celebrity-estate planning cases for advisors.
Celebrity Estates: James Brown and Philanthropy After Death with Robert StraussCelebrity Estates: James Brown and Philanthropy After Death with Robert Strauss
What can advisors learn from the 15-year-long fight over the Godfather of Soul's estate?
In this episode, David Lenok, senior editor at WealthManagement.com, is joined by Robert Strauss, shareholder and director of Weinstock Manion, specializing in guiding high-net-worth families, business owners and real estate developers through the complex process of estate and wealth transfer planning.
Today’s celebrity example is the estate of legendary musician and American icon James Brown, including the fifteen years it took to settle his relatively simple estate. David and Robert discuss how charitable giving can help you avoid drawn out settlements after your death.
David and Robert discuss:
The importance of defining the clients’ wishes for their estate after they pass;
Charitable giving before vs. after death;
How family and legal dynamics can change after you are gone;
How charitable gains are taxed;
And more.
