Estate Planning Keeping Raiders in Davis Household
If you were to make a brief list of the most influential owners in the history of expert football Al Davis would certainly be at or near the top of the list.
Davis ended up being well-known for the catchphrase “Just win, infant,” and for many years numerous of his groups were undoubtedly rather effective.
The Raiders won an AFL championship prior to the NFL and AFL merged, and after the merger they won three Super Bowls in 4 tries. Davis was extremely appreciated by his peers and was granted the ultimate nod when he was inducted into the Specialist Football Hall of Fame in 1992.
Al Davis died on October 8, and as a result the future of his cherished Raiders was in concern. Often times when a private owns such an important possession his/her beneficiaries should offer it in order to pay the estate tax, which today is bring a 35% optimum rate; so expert football observers were questioning if the Raiders would wind up staying in the Davis family.
As it turns out, according to reports coming from NBC Sports and the San Francisco Chronicle Al Davis had a solid estate plan in location that will allow the Raiders to remain in his family. Next year his wife Carol and his boy Mark will take control of and continue the Davis expert football legacy.
Exactly how the estate was structured has not been exposed, but there is an unrestricted exemption for transfer of property in between couple and this could be part of it. Naturally Carol Davis will be confronted with some estate planning challenges going forward.
Although NFL ownership is not typical, numerous Americans own organisations that they have been able to construct from the ground up. A lot of these individuals wish to see their relative take control of after they pass away, and some are confronted with estate tax issues like the Davis family. If you wish to develop a solid prepare for the future that keeps business in the household, take a moment to schedule a consultation with an experienced estate planning attorney.