As most basketball fans know, legendary University of North Carolina coach Dean Smith died in February at age 83. Known for being one of the winningest coaches in NCAA history and coaching Michael Jordan, Coach Smith is now also being remembered for leaving a token of appreciation to former players in his revocable trust. It was recently revealed that Smith directed his trustee to send $200 to each of the varsity lettermen who played for him with the message to “enjoy a dinner out compliments of Coach Dean Smith.”
While we in the Fiduciary Solutions Group frequently become involved with a trust when there is a potential problem or dispute, Coach Smith’s gesture is a nice reminder of the happy surprises and fond memories that a testator’s loved ones can be left with through the use of thoughtful estate planning.
Click here to read the letter to Coach Smith's players.
