Lakers Family Feud Shows How Succession Plans Can Unravel

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The dispute over the Los Angeles Lakers between Jeanie Buss and her five siblings illustrates a risk that applies far beyond celebrity estates: even a carefully structured succession plan can collapse when heirs disagree on whether to hold or sell a major asset. Jerry Buss died in 2013 leaving equal ownership shares to his six children through a family trust, with Jeanie designated as controlling owner — but the plan did not resolve what happens when the majority want to cash out and one does not. As the asset's value has soared (the team is now part of a reported $12.5 billion sale), the pressure on the family structure has intensified, and the dispute is now in court over whether a sale can proceed without Jeanie's consent as co-trustee.

Two estate-planning professionals quoted in the article offer practical takeaways for any family with a shared asset. John Abbuhl of National Advisors Trust advises that grantors hold family meetings with all heirs before death to set clear expectations, and consider naming an independent trustee outside the family to bring more objective decision-making. Ryan Austin of Arondight Advisors notes that when a founder designates one heir to carry out a legacy, the plan should also address who finances the cost of preserving that structure — because as a valuable asset appreciates, the opportunity cost of not selling rises for everyone else.