If you were to make a short list of the most prominent owners in the history of expert football Al Davis would certainly be at or near the top of the list.
Davis ended up being popular for the catchphrase “Simply win, infant,” and over the years many of his groups were undoubtedly rather successful.
The Raiders won an AFL champion prior to the NFL and AFL combined, and after the merger they won 3 Super Bowls in four tries. Davis was extremely appreciated by his peers and was awarded the ultimate nod when he was inducted into the Specialist Football Hall of Fame in 1992.
Al Davis died on October 8, and as an outcome the future of his cherished Raiders remained in concern. Often times when a private owns such a valuable possession his/her heirs need to sell it in order to pay the estate tax, which right now is bring a 35% maximum rate; so professional football observers were wondering if the Raiders would end up staying in the Davis family.
As it ends up, according to reports coming from NBC Sports and the San Francisco Chronicle Al Davis had a strong estate plan in place that will permit the Raiders to remain in his family. Next year his other half Carol and his child Mark will take over and continue the Davis professional football legacy.
Exactly how the estate was structured has actually not been exposed, however there is an unrestricted exemption for transfer of property in between couple and this could be part of it. Naturally Carol Davis will be faced with some estate planning challenges going forward.
Although NFL ownership is not normal, numerous Americans own organisations that they have actually been able to build from the ground up. A great deal of these people want to see their household members take over after they pass away, and some are faced with estate tax problems like the Davis family. If you wish to develop a solid prepare for the future that keeps business in the family, take a moment to organize for a consultation with a knowledgeable estate planning attorney.