If you were to make a list of the most prominent owners in the history of expert football Al Davis would definitely be at or near the top of the list.
Davis ended up being popular for the catchphrase “Simply win, baby,” and throughout the years a number of his groups were indeed quite successful.
The Raiders won an AFL champion before the NFL and AFL combined, and after the merger they won 3 Super Bowls in 4 shots. Davis was extremely appreciated by his peers and was awarded the ultimate nod when he was inducted into the Expert Football Hall of Fame in 1992.
Al Davis died on October 8, and as a result the future of his precious Raiders was in concern. Many times when an individual owns such a valuable asset his or her beneficiaries need to offer it in order to pay the estate tax, which right now is bring a 35% optimum rate; so professional football observers were questioning if the Raiders would wind up remaining in the Davis family.
As it turns out, according to reports coming from NBC Sports and the San Francisco Chronicle Al Davis had a strong estate plan in location that will permit the Raiders to remain in his household. Next year his wife Carol and his child Mark will take control of and continue the Davis professional football legacy.
Exactly how the estate was structured has actually not been revealed, however there is an endless exemption for transfer of property between couple and this might be part of it. Naturally Carol Davis will be confronted with some estate planning challenges going forward.
Although NFL ownership is not typical, lots of Americans own organisations that they have actually been able to build from the ground up. A great deal of these people wish to see their family members take over after they die, and some are confronted with estate tax concerns like the Davis household. If you wish to establish a solid plan for the future that keeps the service in the household, take a moment to organize for an assessment with a skilled estate planning attorney.