Jerry Jones Estate Planning Question

[sonnyboy]

Correct if I'm wrong, but from what I understand Jones ownes the Cowboys and the new stadium outright.

I'm sure he's done the proper planning with L-Ins to handle estate taxes. But I have a larger question/concern.........

How many children does he have? How does his wife figure into this?

We all assume Steven is taking over upon Jerry's death if not sooner. But that's clear cut on the GM role.

What about ownership? Who will own the Cowboys? I'm sure a huge % of the Jerry Jones estate will be the team and stadium. How do the other relatives figure in this and could that lead to a power strugle down the road?

 

[Yeagermeister]

Correct if I'm wrong, but from what I understand Jones ownes the Cowboys and the new stadium outright.

I'm sure he's done the proper planning with L-Ins to handle estate taxes. But I have a larger question/concern.........

How many children does he have? How does his wife figure into this?

We all assume Steven is taking over upon Jerry's death if not sooner. But that's clear cut on the GM role.

What about ownership? Who will own the Cowboys? I'm sure a huge % of the Jerry Jones estate will be the team and stadium. How do the other relatives figure in this and could that lead to a power strugle down the road?

Read his will

My guess would be Stephen, Jerry Jr, and his daughter that works for the team would be the owners and Stephen the GM.

 

[CowboyMike]

Read his will

My guess would be Stephen, Jerry Jr, and his daughter that works for the team would be the owners and Stephen the GM.

This. Although Stephen won't necessarily be the GM. He will be the president. He will run everything. At that point he can either hire a GM or be the GM himself.

 

[Yeagermeister]

This. Although Stephen won't necessarily be the GM. He will be the president. He will run everything. At that point he can either hire a GM or be the GM himself.

True....at that point he can call himself the grand poohbah if he wanted :laugh2:

 

[Cowboys22]

I have been bringing up this point for years. It will be interested to see what happens with the Yankees because that could give us a big clue as to what will happen with the Cowboys. You cannot just inheret something worth $2 billion without having to sell it just to pay the taxes. The team, stadium, and all other related businesses will have to be put into trust or some other estate planning tool for it to stay in the Jones family.

 

[Cowboys22]

I was just reminded that there is no estate tax this year so GS's heirs will have no problems at all.

 

[bbgun]

"I, Jerry Jones, being of unsound mind ..."

If it were up to me, a team would go on the auction block once the owner dies. The deceased's family should have to make their case for ownership, just like any other prospective buyer. If the league agrees, they keep the team. Franchises shouldn't automatically be handed down like family heirlooms.

 

[jswalker1981]

"I, Jerry Jones, being of unsound mind ..."

If it were up to me, a team would go on the auction block once the owner dies. The deceased's family should have to make their case for ownership, just like any other prospective buyer. If the league agrees, they keep the team. Franchises shouldn't automatically be handed down like family heirlooms.

But it is the family business. I guess my aunt and uncle's italian grocery store shouldn't go to my cousins even if their listed as the heirs in their will?

 

[bbgun]

But it is the family business. I guess my aunt and uncle's italian grocery store shouldn't go to my cousins even if their listed as the heirs in their will?

Except that the NFL is a larger family, and they should be able to "disown" you if they want. That way, good families like the Rooneys get to keep their team while the Fords are given the boot in Detroit.

 

[dadymat]

"I, Jerry Jones, being of unsound mind ..."

If it were up to me, a team would go on the auction block once the owner dies. The deceased's family should have to make their case for ownership, just like any other prospective buyer. If the league agrees, they keep the team. Franchises shouldn't automatically be handed down like family heirlooms.

well here in America they dont just strip a family of their heritage and legacy's...

well not yet anyway......


id bet all these things are researched by NFL before they let a person take control of a team...im sure they wanna know what is the plan for the future...........and Stephen Jones wouldnt have to make a very long case before they hand him the keys if it did come to that

 

[TwoCentPlain]

That way, good families like the Rooneys get to keep their team while the Fords are given the boot in Detroit.

And what exactly makes the Rooneys good? I lived in Pgh for many years. Maybe because they are Irish?

You think the Rooneys didn't know about the steroid use in the 70's? How about the gambling? How about getting busted for cheating on the salary cap?

Jerry Jones and his family are way better than the Rooneys.

 

[DanTanna]

If Jerry is in fact worth $2 Billion and he died:

Wife gets one billion because of community property.

Jerry "wills" 1 billion of assets to the kids.

$500 million estate taxes need to be paid in nine months.

With proper life insurance and loans the kids will be fine as long as he takes care of business.

 

[pancakeman]

With all their dealing around the salary cap, I'm confident the Jones's have the estate arranged for maximum advantage.

 

[sonnyboy]

Except that the NFL is a larger family, and they should be able to "disown" you if they want. That way, good families like the Rooneys get to keep their team while the Fords are given the boot in Detroit.

They can. The league has always "approved" ownership. Even in an inheritance scenario.

If they had good reason not to want Jones' heirs, they can give them the boot and force a sale.