Friday, August 16, 2013
The co- creator and executive producer of the Simpsons, Sam Simon, can teach business people a lesson. Simon was successful in negotiating the retention of his producer credits and has continued to collect millions year after year even though he left the show over 20 years ago.
Recently, Simon was diagnosed with terminal cancer and has started an estate planning effort that will leave a large portion of his estate to charity. Simon is particular about the charities he selects. On the list of recipients is the Sam Simon Foundation, which rescues stray dogs and feeds the homeless with vegan food. Additionally, PETA is another charity that Simon has reportedly donated to. Simon is working with the Rockefeller Foundation to set up a trust and designate the trust fiduciaries. As a reult of using a charitable trust Simon will avoid James Gandolfini's estate planning mistakes.
See Danielle and Andy Mayoras, Estate Planning Lesson From The Simpson's Co-Creator, On Wall Street, Aug. 9, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.