Beyond the Deal: Estate Planning, NIL, and Long-Term Wealth Considerations for Athletes and Their Families
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The rapid growth of name, image and likeness opportunities has created a new set of financial, legal and estate-planning considerations for athletes and their families. Young athletes are increasingly receiving meaningful compensation before they have established traditional financial, tax, legal or estate-planning structures. At the same time, professional athletes and high-profile college athletes may have income streams that include endorsement agreements, licensing revenue, appearance fees, business interests, intellectual property and compensation earned in multiple jurisdictions.
This presentation will examine the intersection of NIL, athlete representation, wealth management and estate planning. It will focus on the practical issues attorneys, accountants, financial advisers and estate-planning professionals should consider when advising athletes and their families, including entity formation, contract income, taxation, asset protection, trusts, insurance, family governance, incapacity planning, succession planning and the unique challenges that arise when the athlete is a minor or young adult.
Speaker Bio:
Kam Buckner is an attorney, Illinois legislator and adviser working at the intersection of sports, law, public policy and athlete business affairs. He currently serves as Speaker Pro Tempore of the Illinois House of Representatives and has been deeply involved in the development of Illinois policy governing name, image and likeness rights for student-athletes.
Buckner earned his law degree from DePaul University College of Law, where his studies included international and comparative law, and previously taught public policy at the University of Chicago. His professional experience has included work in government, sports, corporate affairs and public policy, including serving as Executive Director of World Sport Chicago and working with the Chicago Cubs.
In his private work, Buckner advises athletes and families on NIL agreements, athlete-agent relationships, business entity formation, contract matters and the broader legal and business issues that arise as young athletes begin earning significant income. His work gives him a perspective that combines law, public policy, athlete representation and the practical realities facing athletes and their families.
