Celebrity Estates: Pat Bolwen and the Future of the Denver Broncos – Former Denver Broncos owner Pat Bowlen left ownership of the NFL team to three trustees. They’re tasked with finding the next owner of the team, which may or may not be one of Bowlen’s children.
Bowlen was an American lawyer and owner of the Denver Broncos. He served as the Broncos CEO until July 2014, when he stepped down due to progressive effects of Alzheimer’s disease. He passed away in 2019. His estate plan was unique due to the family trust in place, with three trustees taking over in 2014 with the sole purpose of determining the next owner of the team.
In this episode, David Lenok is joined by Dan Griffith, senior vice president and director of wealth strategy at Huntington Private Bank, to review the estate planning of Pat Bowlen and how the trust came into effect. He reveals why business owners are forced out more often than they retire and how to choose the best advisors to address your estate planning needs.
- Why choosing a new owner for the Broncos caused issues among Pat’s descendants;
- How choosing trustees before you are incapable benefits your estate plan;
- The importance of choosing trustworthy and good advisors for an estate plan; and
- Why it is difficult to simply retire as a business owner.
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