Jerry Buss Prepaid His Estate Taxes. It Wasn’t Enough to Save His Legacy As Family Fights For Future Of Lakers
Jerry Buss spent the last decade of his life engineering a trust designed to keep the Lakers in family hands forever. Thirteen years after his death, that structure may be what finally tears the family apart.
Jerry Buss, the patriarch of the Buss family, meticulously planned for the future of his estate and the Los Angeles Lakers. In his final decade, he prepaid estate taxes to ensure his children wouldn't inherit a financial burden. The 66% controlling stake in the Lakers was placed in a family trust, equally split among six siblings.
This arrangement, while intended to create harmony, inadvertently created a zero-sum conflict over every major decision. The siblings, each with an 11% economic interest, struggled to establish an authority structure, leading to disputes and conflicts over the years.
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