There are couple of if any National Football League franchise owners who had the kind of long-lasting success that Al Davis was able to achieve.
He took the helm of the franchise back in 1970 and his achievements are truly amazing. The Raiders won a championship in the old AFL, and after the NFL and AFL combined they recorded 4 AFC champions.
That, naturally, just gets you into the Super Bowl. As soon as you exist you have to win it to really make your mark in history. The Raiders were able to take home the big enchilada on 3 of those 4 celebrations, and this level of excellence assisted to make Al Davis a Hall-of-Famer.
A few weeks ago Al Davis died in Oakland at the age of 82. At the present time the estate tax exemption is $5 million and the maximum rate of the tax is 35%. The Raiders are worth about $760 million according to Forbes, and Davis apparently controlled 47% of the team. If you do the mathematics you’re taking a look at a massive estate tax expense unless specific precautions are taken, and lots of households would have to offer the team to pay the tax if they were to acquire such a valuable asset.
Whether you were a fan of Davis or not, you need to respect his love for and commitment to the Raiders. As you might expect, Al Davis had a solid estate plan in location that will enable his better half Carol and his child Mark to maintain ownership of the franchise. The Davis name will undoubtedly be linked with the Raiders going forward according to NBC Sports, and this is something that lots of people enjoy to see.
Few of us are faced with potential estate tax expenses in the tens or numerous millions of dollars. Many Americans own companies that suggest a great deal to them. If you are among them and you wish to see your organisation bied far to future generations, get in touch with an estate planning lawyer who has a background in company succession planning.