The Estate of Kobe Bryant

On January 26, 2020, beloved basketball star Kobe Bryant died in a helicopter crash at the age of 41. Given Kobe’s estimated net worth (he earned an estimated $680 million over his 20-year career with the Lakers alone), his estate plan (or potential lack thereof) has been a hot news topic ever since. However, Kobe’s lifetime earnings are only a small part of his financial and estate planning picture. In 2013, Kobe co-founded the venture-capital firm Bryant Stibel, and in 2016 began investing in sports drink brand BodyArmor. As the result of a recent investment in BodyArmor by Coca-Cola, Kobe’s initial $6 million investment in the company is now worth an estimated $200 million.

Kobe was, of course, survived by his wife, Vanessa, and rumor has it they married without a prenuptial agreement. Depending on how Kobe’s estate plan, if any, was structured, Vanessa is likely to inherit a large portion, if not all, of Kobe’s estate. Due to the unlimited marital estate tax deduction, she will inherit those assets free of estate tax. However, Vanessa will now have the task of managing her late husband’s estate, including his various business endeavors, and planning the eventual disposition of that estate. The work and difficulty involved in doing so will depend, in large part, upon the planning, or lack thereof, that Kobe completed during his lifetime.

If you have any questions on this topic, please contact Lin Law LLC at (920) 393-1190.

Posted in Estate Planning.