Len Bias was a star basketball player at the University of Maryland drafted by the Boston Celtics in 1986 and one step away from becoming a professional athlete. Unfortunately, he passed away just two days after being selected, but before signing any MBS or sponsorship documents, leaving him and his family out of reach of the wealth he would have received due to the timing of his death.
With host David Lenok and special guest Steve Lockshin, founder of AdvicePeriod and a co-founder of Vanilla, an estate planning advisory platform, they reveal the nuances around name, image and likeness deals for athletes, the challenges and opportunities they present, and the fundamentals . estate planning strategies that every individual, regardless of fame, should consider.
David and Steve discuss:
- How NIL agreements affect the financial and estate planning of young athletes;
- Why Wills, Lasting Powers, and Health Care Directives Are Important for Young People;
- Strategies to protect future income and assets through estate planning
- What advice do advisors have for guiding young earners in wealth and financial planning;
- And more.
Sources:
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About our guest:
Steve Lockshin is an entrepreneur in the wealth management services industry. He built and sold RIA and TAMP. Now doing it again, Steve is a founder with a primary focus on serving the ultra-wealthy through effective estate and investment planning. He is a champion for technological advancements in the wealth advisory industry as he works to improve transparency and support the fiduciary standard (+) and author of Get Wise to Your Advisor.
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