Who is representing the players in the NBA DRAFT?
Interesting to see how the representation shakes out (and how "full service agenting" is becoming even more of a thing. h/t Darren Heitner
- The first contract for these players is usually pre-determined by the collective bargaining agreement, so there isn't a lot to negotiate there.
- But the player's second and third contracts are where the agents earn their keep. The understanding of the teams' cap (and team cash flow/luxury tax and desire to "win now") situation are where agent information resources show their value.
- Having deep information about the moving chess pieces amongst players and coaches are equally helpful as a player's "playing lifestyle" becomes important.
- Finally, players have much deeper understanding and appreciation for outside income activities. Their experience often starts before high school! With the onset of NIL, players are much more savvy about their value.
-On the back end, superstars experience in venture partnerships and other investment activities have opened the eyes of many players (sometimes mirroring or in tandem with other family offices) .- agents have had to adapt to these information and service needs too.
What Tax Changes are in Place Now?
A good summary of the state tax changes going into place 7/1/2025-
Tax planners in Washington State are going to be busy!
An Expanded SALT could lead to an explosion of Non-Grantor Trust Planning
h/t Steve Oshins and Bob Keebler
"Assuming the $40K SALT Limit gets passed into law,…
We’ll be setting up multiple non-grantor trusts for clients to multiply the tax savings.
We’ll decant many existing “pot” trusts into multiple non-grantor trusts.
We’ll create less grantor trusts and more non-grantor trusts, especially if the $15 million/$30 million estate tax exemption passes.
We’ll set up more NING trusts to keep the client’s taxable income within $500K and to push excess income (probably aiming to keep it within the $500K) into the NING Trust." - Steve Oshins