11/14/2012

George Lucas's Visionary Estate Plan

George Lucas is known for his visionary films and accomplishments (www.lucasfilms.com), and his estate planning is no different. 

Disney has struck a deal with Lucasfilm to purchase it for $4.05 billion in cash and stock.  2012 was the optimum time to sell so he could save on capital gains which will increase in 2013.

Lucas’s three children do not plan on taking over the business – this was a plan which allowed Lucas to ensure that his film legacy will continue without putting additional stress on his children.

Lucas plans on donating a large amount of his money to education causes, as outlined on the website (givingpledge.com). 

Disney will continue to produce the Star Wars movies.  Star Wars Episode 7 will appear in theaters in 2015.