Power of Proper Estate Planning Through the Eyes of Al Davis
As the late Al Davis once said about his beloved Raiders "just win baby", Al is still winning after his recent passing. For those of you who do now know who Al Davis was, he was the controlling shareholder of the Oakland Raiders, valued at around $761 million.
Without any estate planning in place, Al's family could have owed a hefty tax bill causing them to have to sell the team in order to pay the estate tax. Instead, it has been reported that Al did thorough estate planning and will be keeping control of the team within his family. It is unknown what exactly Al did for his estate planning but one could assume that he had one or more trusts in place for tax planning and probate avoidance.
In Al's final game versus the IRS, Al won.
To learn more about simple ways to avoid the estate tax, please contact our estate planning attorney at Wood, Atter & Wolf, P.A. in Jacksonville and Ponte Vedra Beach, Florida.
