Celebrity Estates: Wills of the Rich and Famous

Leon Spinks shocked the world in 1978 when, in just his eighth professional fight, he defeated Muhammad Ali to become the undisputed heavyweight champion, a victory still regarded as one of boxing’s greatest upsets. Yet, despite his early success and multimillion-dollar earnings, financial missteps and the long-term effects of brain injuries would take a heavy toll. At his lowest point, Spinks worked as a janitor and fast-food worker in Nebraska. But with the unwavering support of his wife Brenda, he eventually found peace and stability in Las Vegas, where he remained a cherished figure in the boxing community until his death from prostate cancer at age 67. Join WealthManagement.com Senior Editor David Lenok as he sits down with advisor and author George Stefanou for an insightful conversation on the unique estate planning challenges faced by first-generation millionaires. Together, they explore the emotional complexities and generational tensions that arise when “old country” values meet modern American dreams—and how advisors can help families navigate the delicate balance between legacy, lifestyle, and long-term stewardship. George shares insights into: * Challenges faced by first-generation millionaires * The emotional side of estate planning and the importance of family conversations * How heirs can avoid a ‘windfall mentality’  * Strategies for fostering family cohesion and legacy * The expanded role of advisors, including the need for increased financial literacy * And more Resources: * Listen to Celebrity Estates on WealthManagement.com [https://www.wealthmanagement.com/program/celebrity-estates] * Subscribe and listen to Celebrity Estates on Apple Podcasts [https://podcasts.apple.com/ca/podcast/celebrity-estates-wills-of-the-rich-and-famous/id1466224736] * Subscribe and listen to Celebrity Estates on Spotify [https://open.spotify.com/show/2tTjOQRtHIqSUoY6K4GwMS] * Trust and Estates Magazine [https://subscriptions.wealthmanagement.com/?p=TPDCST] * Two-Comma Wealth [https://a.co/d/0ZMRgsP] by George Stefanou, CFP®, CPWA®, CEPA® Connect With David Lenok: * david.lenok@informa.com [david.lenok@informa.com]  * WealthManagement.com [https://www.wealthmanagement.com/] * LinkedIn: David Lenok [https://www.linkedin.com/in/david-lenok-a481432a/] * LinkedIn: Informa [https://www.linkedin.com/company/informa/] * LinkedIn: WealthManagement [https://bit.ly/WealthManagementLI] Connect With George Stefanou: * Two-Comma Wealth [https://twocommawealth.com/] * Edward Jones: George Stefanou [https://www.edwardjones.com/us-en/financial-advisor/george-stefanou] * LinkedIn: George Stefanou [https://www.linkedin.com/in/george-stefanou-edward-jones/] * Facebook: George Stefanou [https://www.facebook.com/edwardjonesorlando/#] About Our Guest: George is a first-generation Greek-American and a 2023 & 2024 Forbes Best-in-State Top Next-Gen Wealth Advisor, serving as the financial guru behind “Two-Comma Wealth.” As a University of Central Florida alumnus and avid football fan, George brings a unique perspective to the world of personal finance. Alongside his roles as a devoted husband to Kristin and father to Ella and Aubrey, George is a CERTIFIED FINANCIAL PLANNER™ [https://s.w.org/images/core/emoji/15.1.0/72x72/2122.png] professional who also holds the following advanced credentials: Certified Exit Planning Advisor (CEPA®), Certified Private Wealth Advisor® (CPWA®), Accredited Asset Management Specialist℠ (AAMS®), Chartered Retirement Plans Specialist℠ (CRPS®) and Chartered Retirement Planning Counselor℠ (CRPC®). Drawing on over 15 years of experience and thousands of diverse client interactions, George has developed a talent for humanizing finance, helping clients navigate the complexities of wealth management while empowering both investors and advisors.

When Bob Marley passed away in 1981, he left behind a musical legacy, but no estate plan. Due to his religious beliefs, Marley didn’t create a will, and what followed was a legal firestorm: forged documents, disputed signatures and a tangled web of allegations involving his wife, attorney and accountant. In this episode, David Lenok is joined by Noah Rosenfarb, CPA, founder of Wealthrive, to explore what happens when traditional estate planning tools, like wills, are off the table. Noah discusses: * The vital differences between wills and trusts  * Strategies like the Spousal Lifetime Access Trust  * Navigating estate versus revocable trusts  * The misunderstood role of communication in wealth preservation * Overcoming familial challenges in estate planning  * And more Resources: * Listen to the latest episodes of Celebrity Estates [https://www.wealthmanagement.com/featured-series/celebrity-estates] * Trust and Estates Magazine [https://subscriptions.wealthmanagement.com/?p=TPDCST] Connect With David Lenok: * david.lenok@informa.com [david.lenok@informa.com]  * WealthManagement.com [https://www.wealthmanagement.com/] * LinkedIn: David Lenok [https://www.linkedin.com/in/david-lenok-a481432a/] * LinkedIn: Informa [https://www.linkedin.com/company/informa/] * LinkedIn: WealthManagement [https://bit.ly/WealthManagementLI] Connect With Noah Rosenfarb: * connect@wealthrive.com [connect@wealthrive.com] * Talkabouttax.com [http://talkabouttax.com]  * LinkedIn: Noah Rosenfarb, CPA [https://www.linkedin.com/in/noahrosenfarb/] * LinkedIn: Wealthrive Inc. [https://www.linkedin.com/company/wealthriveinc/] * (855) 540-0400 About Our Guest: Noah Rosenfarb is a third-generation CPA who learned early in life that becoming tax-efficient could accelerate the journey toward achieving financial goals. After attaining financial independence and stepping away from operating businesses, Noah began sharing his expertise with members of EO and YPO. The response was immediate—people started asking him for help. Determined not to return to a traditional job, Noah assembled a team of accountants, lawyers, and financial planners. He personally trained them in the strategies he used to become Rich Beyond Money. One of his proudest accomplishments is knowing that entrepreneurs working with his team achieve better results than he could have delivered alone. Noah openly shares the tools, resources, and strategies that created his own version of true freedom. With a track record that includes selling eight companies, taking one public, and completing more than 50 real estate investments valued near $1 billion, he brings more than technical expertise—he brings lived experience. He serves high-performing families who seek to balance qualitative life goals with quantitative financial strategies. Based in Parkland, Florida, Noah lives with his wife, Amanda, and their two children. A passionate traveler, he’s visited over 70 countries across five continents.

After four decades of acting and winning multiple awards, Gene Hackman was found dead in his home at the age of 95, along with his wife and primary caretaker, Betsy Arakawa. Forensics uncovered that his wife predeceased him, leaving him to struggle with Alzheimer’s alone before passing away one week later. Join WealthManagement.com Senior Editor David Lenok, and Jackie Bevilaqua a partner at Warshaw Burstein, as they delve into the tragic and unexpected circumstances of Hackman’s final days, exploring pressing questions about elder care, cognitive decline and how to safeguard clients against unforeseen complications. They discuss: * Challenges in estate planning for cognitively impaired clients  * The importance of ongoing revision and understanding of estate plans  * How societal shifts impact elder care and estate planning * The significance of community support systems in elder law * Legal nuances of simultaneous deaths and the implications for estates Resources: * Listen to the latest episodes of Celebrity Estates [https://www.wealthmanagement.com/featured-series/celebrity-estates] * Trust and Estates Magazine [https://subscriptions.wealthmanagement.com/?p=TPDCST] Connect With David Lenok: * david.lenok@informa.com [david.lenok@informa.com]  * WealthManagement.com [https://www.wealthmanagement.com/] * LinkedIn: David Lenok [https://www.linkedin.com/in/david-lenok-a481432a/] * LinkedIn: Informa [https://www.linkedin.com/company/informa/] * LinkedIn: WealthManagement [https://bit.ly/WealthManagementLI] Connect With Jacqueline Bevilaqua: * LinkedIn: Jacqueline Bevilaqua [https://www.linkedin.com/in/jacqueline-bevilaqua-819b5651/] * Warshaw Burstein [https://www.wbny.com/] About Our Guest: Mrs. Bevilaqua has focused her practice on trusts and estates law since 2013. She has a strong background in estate planning and estate and trust administration for a diverse clientele, particularly complex issues of gift, estate and trust taxation. She also has significant experience in international estate planning, foreign account tax act compliance, and pre-immigration tax planning. In addition, Ms. Bevilaqua is well-versed in counseling nonprofit corporations on regulatory, governance and federal and state tax compliance matters.

With Donald Trump appearing at his recent inauguration flanked by tech billionaires, the connection between presidents and the almighty dollar is more apparent than ever. However, Trump is not the only president with an interesting relationship with money. In this episode of the Celebrity Estates podcast, host David Lenok welcomes back Megan Gorman, a wealth and tax planning expert and founding partner at Chequers Financial Management, to discuss her new book, All the President’s Money: How the Men Who Governed America Governed Their Money [https://a.co/d/6usR1Fr]. Listen as they delve into U.S. presidents’ financial decisions and estate planning strategies, uncovering common challenges such as procrastination and poor communication with heirs. Through historical examples, Megan and David emphasize the importance of clear estate planning, communication with heirs and considering the legacy one’s financial decisions leave behind. The discussion underscores how estate planning lessons from historical figures can be applied to modern financial planning, making it a compelling episode for advisors and individuals alike. Key insights include: * Insights into Harry Truman’s “letter of wishes”  * The surprising financial savvy of Warren G. Harding * How George Washington’s estate plan unintentionally endangered Martha * Abraham Lincoln’s lack of an estate plan despite his legal background * And more Resources: * Listen to the latest episodes of Celebrity Estates [https://www.wealthmanagement.com/featured-series/celebrity-estates] * Trust and Estates Magazine [https://subscriptions.wealthmanagement.com/?p=TPDCST] * Celebrity Estates Podcast: Britney Spears’ Conservatorship [https://www.wealthmanagement.com/estate-planning/celebrity-estates-podcast-britney-spears-conservatorship] * Philip Seymour Hoffman – Don’t Delay When It Comes To Your Estate Plan – With Megan Gorman [https://deadcelebrity.blubrry.net/2021/12/20/ep-59-philip-seymour-hoffman-dont-delay-when-it-comes-to-your-estate-plan-with-megan-gorman/] * Tom Petty’s Children and a Second Marriage — With Returning Guest Megan Gorman [https://music.amazon.com/podcasts/d2ac8c96-ec23-48bf-978f-48dc97147ac5/episodes/679289a3-f428-4b80-b7b2-3178277d9704/celebrity-estates-wills-of-the-rich-and-famous-dead-celebrity-ep-5-%E2%80%93-tom-petty%E2%80%99s-children-and-a-second-marriage-%E2%80%94-with-returning-guest-megan-gorman] Connect With David Lenok: * david.lenok@informa.com [david.lenok@informa.com]  * WealthManagement.com [https://www.wealthmanagement.com/] * LinkedIn: David Lenok [https://www.linkedin.com/in/david-lenok-a481432a/] * LinkedIn: Informa [https://www.linkedin.com/company/informa/] * LinkedIn: WealthManagement [https://bit.ly/WealthManagementLI] Connect With Megan Gorman: * LinkedIn: Megan Gorman [https://www.linkedin.com/in/megangormancfm/]  * LinkedIn: Chequers Financial Management [https://www.linkedin.com/company/chequers-financial-management/] * Chequers Financial Management [http://www.chequersfinancial.com/] About Our Guest: Megan is the founding partner of Chequers Financial Management, a fee-only planning firm that specializes in high-net-worth and ultra-high-net-worth families in San Francisco, California. Megan heads the firm’s family office services practice. As well, Megan is a Senior Contributor for Forbes in personal finance and tax. She is also quoted regularly in the press as a tax and financial planning expert including such publications as The Wall Street Journal and The Washington Post. She blogs at TheWealthIntersection.com, has appeared on numerous podcasts, and is a regular weekly commentator on The Money Tree Podcast.

Jim Thorpe, revered as one of the greatest athletes in American history, exemplifies how personal wishes and legal rights can conflict posthumously. Thorpe’s estranged third wife, Patricia, moved his remains to a town in Pennsylvania, which now bears his name, in a bid to create a tourist attraction, a decision contested by his sons under the Native American Graves Protection and Repatriation Act of 1990. David Lenok speaks with Alma Soongi Beck and Professor Jo Carillo about the multifaceted legal landscape surrounding estates involving Native Americans, focusing on Jim Thorpe’s controversial burial. They explore the nuanced issues of land rights, the Native American Graves Protection and Repatriation Act, and the increasing interest in land back movements. David, Alma, and Jo discuss: * The legal battles surrounding Jim Thorpe’s burial controversy and what it symbolizes for Indigenous rights;  * The impact and significance of the land back movement on traditional land ownership;  * Common pitfalls encountered in estate planning involving Indigenous lands;  * Recent trends in charitable giving and how they support Indigenous communities; * How tax laws affect charitable giving to Indigenous organizations; Resources: * Listen to the latest episodes of Celebrity Estates [https://www.wealthmanagement.com/featured-series/celebrity-estates] * Trust and Estates Magazine [https://subscriptions.wealthmanagement.com/?p=TPDCST] * Native Land Digital [https://native-land.ca/] * Sogorea Te’ Land Trust [https://sogoreate-landtrust.org/] Connect With David Lenok: * david.lenok@informa.com [david.lenok@informa.com]  * WealthManagement.com [https://www.wealthmanagement.com/] * LinkedIn: David Lenok [https://www.linkedin.com/in/david-lenok-a481432a/] * LinkedIn: Informa [https://www.linkedin.com/company/informa/] * LinkedIn: WealthManagement [https://bit.ly/WealthManagementLI] Connect With Alma Soongi Beck: * LinkedIn: Alma Soongi Beck [https://www.linkedin.com/in/sanfranciscoestateplanning/] * Lathrop GPM [https://www.lathropgpm.com/] Connect With Professor Jo Carillo: * UC Law San Francisco: Jo Carrillo [https://www.uclawsf.edu/people/jo-carrillo/] About Our Guests: Alma Soongi Beck is certified as a specialist in estate planning, trust, and probate law by the State Board of Legal Specialization. Alma’s practice focuses on trusts, charitable planning, gift and estate tax planning, and post-death administration including trust administration and probate. She also offers consultations and seminars on the legal and tax implications of domestic partnership, marriage, and property co-ownership for same-sex and unmarried couples, as well as on the evolution of parentage and gender in estate planning. Alma also advises and presents Land Back to Indigenous Tribes for titleholders, Tribes, and Indigenous nonprofit organizations. Jo Carrillo JD/JSD is a Professor of Law and Faculty Director of the Indigenous Law Center (ILC) at UC Law San Francisco (formerly UC Hastings). For over three decades, Carrillo has taught and written extensively in property and property-related subjects, including Federal Indian Law. Carrillo earned her BA from Stanford University, her JD from the University of New Mexico, and her JSD from Stanford Law School. She is a member of the Order of the Coif, the American Law Institute, and a former Trustee of the Law & Society Association; she was a Visiting Scholar at The Center for the Study of Law & Society at UC Berkeley Law, and a Visiting Professor at Stanford Law School. As Faculty Director of the UC Law Indigenous Law Center, in addition to other responsibilities, Carrillo facilitates a seminar series called Law & Seminars.