Franz Beckenbauer, often hailed as one of the greatest football players in history, left a mark on the world of soccer. Known as “The Kaiser,” Beckenbauer’s contributions as a player, coach, and ambassador elevated him to legendary status.
He led Germany to World Cup victories both as a player in 1974 and as a coach in 1990. His influence extended far beyond the pitch, earning him a place among the greatest footballers of all time, alongside names like Diego Maradona, Pelé, and Johan Cruyff.
Despite his football fame, Beckenbauer knew the importance of proper estate planning, a lesson valuable to everyone.
The Kaiser’s Last Move
Franz Beckenbauer passed away on January 8, 2024, at the age of 78. Aware of his declining health, he meticulously crafted his will in February 2023, ensuring that his wishes were clear, and his family was well taken care of. This foresight highlights the importance of preparing for the inevitable.
Estate Distribution Strategy
Beckenbauer’s estate, valued at approximately 80 million euros, was thoughtfully distributed among his loved ones. He appointed his wife, Heidi, as the primary overseer of his properties, granting her the authority to approve any sales. This decision ensured that Heidi had control and could manage the family’s real estate assets effectively.
Significant portions of his wealth were given to his children, Joel and Francesca, even before his passing. This preemptive distribution helped in managing tax implications and provided financial security for his younger children. Beckenbauer’s eldest sons, Thomas and Michael, who had been financially independent for years, continued to manage his finances through their business.
What Beckenbauer’s Legacy Teaches Us About Smart Estate Planning
- Plan Ahead
Beckenbauer’s proactive approach to estate planning ensured his wishes were honored and his family was taken care of. Starting your estate planning early, especially when facing health issues, can prevent future complications.
- Clearly Define Roles and Responsibilities
Assigning specific roles to family members, like Beckenbauer did with his wife and sons, helps ensure that your assets are managed according to your wishes.
- Communicate Your Wishes
Beckenbauer’s clear communication with his family and notary ensured that his desires were known and respected. Regularly discuss your estate plans with your loved ones to avoid misunderstandings.
Trust Counsel: Your All-Star Estate Planning Team
If life changes have made you reconsider your estate plan, Trust Counsel is here to help. We can guide you through updating your documents to ensure they align with your current circumstances and wishes.
Contact us today to ensure your estate plan reflects your legacy.
