Wrestling CEO Makes Estate Plan Sell, Elder Law Attorney, Woodstock, GA

Vince McMahon the CEO of Worldwide Wrestling Entertainment has sold off a large number of shares in the company as part of his estate planning.

In recent months rumors have circulated that Worldwide Wrestling Entertainment might be sold. While the company has officially denied that CEO and majority owner Vince McMahon has any plans to sell the company to new ownership, it did announce that McMahon sold 1.55 million shares in the company.

Bloomberg reports this development in “WWE CEO Vince McMahon Sells 1.55 Million Shares in Estate Move.”

The shares are valued at $32.5 million.

According to regulatory filings, the stock sale was done as an estate planning move. As McMahon’s overall estate plan is not a matter of the public record, we can only speculate on the exact purpose of the move.

Quite often, these moves are done for a number of different reasons.

The cash might be used to pay an anticipated estate tax bill. This could also be done to equalize the inheritances for different heirs. It could also be done to have the cash available for a trust that is to be created for charitable or other purposes.

An important takeaway to keep in mind is that McMahon’s stock sale illustrates that when making estate plans you are not limited to what you can do with your assets. You can adjust them as necessary to make your plan more effective.

A qualified estate planning attorney can help you weigh the best options for all concerned.

Reference: Bloomberg (Aug. 17, 2016) “WWE CEO Vince McMahon Sells 1.55 Million Shares in Estate Move.”


Hear From Our Clients

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben