If you were to make a list of the most influential owners in the history of expert football Al Davis would certainly be at or near the top of the list.
Davis became well-known for the catchphrase “Just win, infant,” and over the years much 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 three Super Bowls in 4 tries. Davis was extremely respected by his peers and was awarded the supreme nod when he was inducted into the Expert Football Hall of Popularity in 1992.
Al Davis died on October 8, and as an outcome the future of his beloved Raiders remained in question. Many times when a specific owns such an important possession his or her beneficiaries should offer it in order to pay the estate tax, which today is carrying a 35% maximum rate; so expert football observers were questioning 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 solid estate plan in location that will permit the Raiders to remain in his family. Next year his better half Carol and his kid 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 unlimited exemption for transfer of property between couple and this might be part of it. Obviously Carol Davis will be confronted with some estate planning challenges going forward.
Although NFL ownership is not typical, many Americans own services that they have had the ability to build from the ground up. A lot of these people would like to see their family members take over after they pass away, and some are confronted with estate tax issues like the Davis family. If you wish to establish a solid prepare for the future that keeps the organisation in the family, take a minute to schedule a consultation with a skilled estate planning lawyer.