The recent $10 billion sale of the Los Angeles Lakers provides a powerful cautionary tale about Estate Planning, family conflict, and business succession. Despite a sophisticated Trust designed to keep ownership in the Buss family, structural flaws and sibling rivalries ultimately dismantled Jerry Buss’s legacy. This case illustrates why even well-drafted Estate Plans can fail when they ignore real-world dynamics. Learn the critical lessons every family business owner should consider before it’s too late. Continue reading to learn more.
Michael J. O’Brien is a practicing attorney and a founding partner of Cleveland-based The O’Brien Law Firm LLC. Mr. O’Brien’s firm emphasizes estate and trust planning and administration, probate, corporate planning, family business, family limited partnership and charitable trust and private family foundation planning Read More!
Latest posts by Michael O'Brien (see all)
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