Entertainers need to attend to their estates
“It’s easy to make a million dollars, but hard to hold onto a dollar.” – Nashville saying
The history of entertainers is full of riches-to-rags stories – talented people who made the wrong financial decisions, or didn’t anticipate their needs in advance.
George Jones’ life had all the elements of a country song: bad management, alcohol problems and impossible debt loads. In the end, though,he got his affairs in order.
Singer/actor Kevin Bacon lost a lifetime of earnings when he put his faith in Ponzi schemer Bernard Madoff. He did not lose confidence, though, and is once again on a solid path.
Tammy Wynette ran into legendary trouble when her own bank failed. It was a life lesson that she learned from.
Willie Nelson was in so deep with money problems — $17 million deep – that he recorded an entire album, Who’ll Buy My Memories?/The I.R.S. Tapes to pay off the government.
The most successful entertainers are those who work with honest professionals who guide them with sensible plans that conserve the wealth they have accumulated – in this life and beyond.
At Cook Tillman Law Group, we work with entertainers, sports figures, and professional people who are serious about controlling their assets through life and even beyond.
Trust and Trusts
At Cook Tillman Law Group, we work with clients to avoid the most painful pitfalls of the probate process.
One of the best ways to control one’s assets is to no longer own them. We assist clients in creating revocable trusts that serve as roadmaps to the future about where you want your money to go.
We explain the advantages of co-owning real estate, and making gifts of your assets during your life to family members and loved ones. We arrange for your assets to be transferred to loved ones the moment you die.
We also help with long-term planning, so that Medicaid does not eat up your hard-won assets to pay for nursing care.
Our skill-set is knowledge of the law, a talent for dealing with complexity, and a steadfast commitment to client goals.
As attorneys, we work to protect your plans to minimize surprises, no misunderstandings, and ambiguities about where your assets go.
In the end, we know that our business is trust – in sound planning and straightforward dealings.
That old saying — “It’s easy to make a million dollars, but hard to hold onto a dollar”?
It’s not so hard when you start with a plan.