Celebrity Estates: The Gilded Age and Psychological Implications of Inherited Wealth

Even celebrities aren’t free of the pitfalls of poor estate and legacy planning. With their lives and finances often in the spotlight, it can be easy to see where they fall short and how to avoid those same problems if you know where to look. Join David Lenok and his guest, psychologist and economist Eric Schoenberg, as they discuss the psychological implications of inherited wealth and how economic principles might not always align with personal happiness. This enlightening discussion sheds light on common pitfalls in estate planning and offers valuable lessons that can be applied beyond the celebrity realm. David and Eric touch on: The psychological impact of inherited wealth and its influence on personal fulfillment. The complexity of estate planning and common challenges faced by individuals, regardless of their status. Expert insights on navigating the legal and emotional aspects of estate distribution. Analyzing famous estate planning cases to extract valuable lessons for advisors and their clients. And more Resources: Listen to the latest episodes of Celebrity Estates Trust and Estates Magazine “You Can’t Take It With You: The Life and Afterlife of America’s Greatest Fortunes” by Eric Schoenberg Connect With Eric Schoenberg: LinkedIn: Eric Schoenberg Columbia University, Department of Psychology Connect With David Lenok: [email protected]  WealthManagement.com LinkedIn: David Lenok LinkedIn: Informa LinkedIn: WealthManagement About Our Guest: Eric Schoenberg’s academic research centers on the psychology of money, with a specific focus on intergenerational wealth transfers and behavior in financial markets. He has taught a range of classes in Behavioral Economics and Decision Making.