Wealth Manager Discusses Estate Planning Using Miami Dolphins Case Study

Michael Gold, founder of Gold Family Wealth in Westport, discussed how Joe Robbie's estate faced complications after his death in 1990 due to a lack of a complete estate plan. Because most of Robbie's assets were in illiquid real estate and the Miami Dolphins, the family sold the team for approximately $108 million, with $47 million going to the IRS after four years of disputes. Gold emphasizes that his practice uses trust selection as the starting point for wealth management.

Gold's advice centers on using tools like the Dynasty Trust to hold assets outside a family’s taxable estate permanently. The report notes that the generation-skipping transfer exemption stood at $15 million per individual for 2026. This highlights the importance of structured wealth transfer for ultra-high-net-worth families.