New York 2006

Chapter 292 Logic’s Will

Making a will is obviously a big deal!
It can be seen from Michael Jackson's inheritance battle that he did not have a detailed understanding of the will, and how deceptive it was to make a rough will.

This will may even be his reminder!
To this day, Luo Ji still doubts whether Jackson created this will himself.

This is not just Luo Ji's suspicion. Many people in the United States also have this suspicion. Recently, many law firms have used Jackson's case as a negative teaching material directly on the Internet.

Of course Luo Ji had to learn this lesson, and he began to make silent calculations in his mind.

“You must fully understand the relevant information before creating a will.”

"You can't let the stakeholders around you know that you want to make a will, otherwise they may use various excuses and professional knowledge to influence them."

"Then Matthew and Jamie can't look for a third-party consultant. Instead, they can provide objective information for making a will."

"It's not safe to consult with one lawyer. You need to consult at least two. By the way, you also need to ask them to sign a confidentiality agreement."

"After the consultation is over, let Jamie make a will. This will also test whether Jamie is loyal to me and whether he has any other small thoughts."

…………

Time flies so fast, three weeks pass in the blink of an eye, and it’s August 8th.

ten o'clock in the morning.

Xu Youyu drove to Luo Ji's house on Broadway in New York.As soon as he got off the car, he saw Zhu Haowei's car driving towards here not far away, so he stopped and waited for a while.

After Zhu Haowei got off the car, he first said hello, and then asked in confusion: "Do you know when Logic returned to New York from Los Angeles?"

"It seems like ten days ago, he came back on a private plane." Xu Youyu then said, "Didn't he go to Marvel during this time?"

"Did not go."

"This is a bit strange. He usually likes to inspect the company!"

"I don't know about that." Zhu Haowei was also a little confused: "Do you know why Logic came to us today? Isn't his birthday tomorrow?"

"I do not know either."

Zhu Haowei made an inviting gesture: "Let's go, we'll find out when we get in."

The two walked into the villa and at first glance, they saw that the living room had been turned into a conference room, and several people were already sitting in it.

Xu Youyu carefully identified them. Apart from Luo Ji, these people were Logic's lawyer Jamie, manager Braun, accountant Lin Qingji, Future Records CEO Jeff Basker, and Holi CEO Yang Jian.

Including the two of them, there were seven people in total.

Luo Ji immediately waved and motioned for the two of them to come and sit down: "Now that everyone is here, let's start today's business. Because of the reminder of Jackson's incident, I asked everyone to come together today, mainly because I want to make my own will. Let you all be witnesses together.”

Jamie, the lawyer who knows the inside story, and Lin Qingji, the accountant, remain unchanged.Everyone else had surprised expressions on their faces.

Luo Ji didn't wait for their answer, took out two documents, and handed them to Braun and Yang Jian who were nearest: "You guys circulate them, and I will read them out next."

"Okay, okay." Several people said quickly.

While it was being circulated among several people, Luo Ji recalled the contents of the will.

Some things that were inconvenient to divide, such as private jets, were left to the children.The villa on Long Island, New York, was left to her mother.This house on Broadway in New York was left to Max, whom he had known for a long time.The house in Burbank, Los Angeles, was left to Fiona.

There were also paintings, luxury goods, comic books, game consoles, records, etc. of low value, which were distributed to some people around him.

For example, Psaki, Kristen, Sheldon, Lily, Bianca and others, and even the two bodyguards who have always been with him.

The most commemorative ones, some of the musical instruments he plays on various occasions, will be donated to the Grammy Art Museum.

Luo Ji divided the remaining main assets into two parts and combined them into two revocable family wealth trust funds.The main reason is to avoid inheritance tax, and there is no need to disclose it to the outside world, so it can be kept secret!

One contains the core assets of Luo Ji’s absolute holdings.

There are Future Records, Electronic Music Records, Marvel Entertainment, Logic Pictures, Holi Games, WeChat and Logic Investment Company.

This trust fund included all of Luo Ji's shares in these companies.There are only two beneficiaries.

His son Ares Shebasky Luo will receive 70% of the proceeds. If he dies suddenly, he will be the successor to his business empire.

His daughter Diana Shebasky Rowe will receive 30% of the income and just enjoy the wealth.

Once the two of them reach the age of 18, they will automatically receive one-third of the proceeds.Once both of them reach the age of 21, they will receive full benefits.

If Luo Ji suddenly dies midway, the executors of the family trust fund will be controlled by Xu Youyu, Jeff Basker, Zhu Haowei, Yang Jian and lawyer Jamie.

Except for Jamie, the other four people are CEOs of these companies, which makes it easier to manage their own business empires.

Of course, the will is not that simple. It stipulates in detail their annual salary, obligations, and rights.They also each take charge of one piece.

For example, two film companies are controlled by Zhu Haowei, two music companies are controlled by Jeff Busker, and two Internet companies are controlled by Yang Jian.

Another trust fund included non-core assets invested by Luo Ji.These are basically your own venture capital and stock investments.

The companies that are more valuable now and exceed 5% are as follows.

It mainly includes 5% of Booking Holdings (increased this year with the personal income of two record companies), 5% of BYD, 10% of SpaceX, 10% of Netflix, and 15% of Tesla.

Others are now slightly more valuable, but less than 5% include these two.Apple 0.1%, Amazon 0.5% (slowly increasing its holdings in the past two years).

The rest are some companies that are not worth much now, but have a relatively large proportion of shares.

For example, SolarCity, Longi Green Energy, etc., these series of venture capital account for 10% of new energy start-ups. 51% multicultural new media companies, 50% SB live performance companies and brokerage companies, and 15% Xiyin Clothing.

Finally, it includes some fragmented investments, such as futures, gold, treasury bonds, and some small investments in the stock market.In the future, non-core investments will also be included in this family trust fund.

This trust fund will benefit more people.

His daughter Diana, son Ares, and mother Sami each received 20%.The three of them are considered the main beneficiaries of this trust fund, totaling 60%.

Brother Chucky, grandmother Queenie, and ex-wife Robin, who gave birth to his two children, each have 5%, totaling 15%.

Fiona 2%, Carl who saved his life 2%.Debbie, Ian, Lip, Liam, Max, whom I have known for a long time, and best friend Blake add up to 1%.These total 5%.

The remaining 15% will be donated to form a global charity fund named after his stage name Logic to help needy and talented students around the world afford tuition and provide scholarships.

This charity fund will then be controlled by his two children and Xu Youyu, who has helped his career the most.Xu Youyu is considered the most important manager.

It can be seen from the fund manager that when the time comes, most of this charity fund will do charity in areas with dense Chinese populations around the world.

These totaled 95%. As for the last 5%, Luo Ji gave it to the person he had hurt...

Lawyer Jamie suddenly patted Luo Ji on the shoulder: "Logic, everyone has finished reading. You can read out the will."

Luo Ji nodded, then turned on the camera next to him and pointed it at everyone, and finally picked up the document and read it out.

"I am Felix Slott Rowe, stage name Logic, a resident of the State of New York, USA. I declare this to be my will and hereby declare all previous wills signed by me to be invalid."

"I announce that I am currently single. My marriage to my ex-wife, Robin Scherbasky, has been dissolved. I have two surviving children, Diana Scherbasky Rowe and Ares Scherbasky Ky. Rowe. I have no other children, living or deceased.”

"I will use this will to dispose of all estates in my name."

"I entrust all my property to the following two family trust funds..."

……

"I appoint Xu Youyu, Lin Qingji, Jamie Dutton and Scooter Braun as co-executors of the second family trust."

"If I die when my children are minors, then I designate my mother, Sammy Slott, as primary guardian of both children. If Sammy Slott dies or is unwilling to serve as primary guardian, then I designate my maternal grandmother Queenie Slott as primary guardian of the two children. In the event of Queenie Slott's death or unwillingness to act as primary guardian, my aunt Fiona Gallagher will act as primary guardian of the two children. "

After about 10 minutes, Luo Ji finished his lecture.

He looked at everyone and said, "Do you have any objections or additions to what I just read?"

The seven people hurriedly said: "No."

"Then just sign."

Luo Ji prepared two wills in total, one was the original will and the other was a copy.

It took Luo Ji a few minutes to sign two thick wills of more than [-] pages, write his name and time respectively, and finally handed them to the other seven people to take turns to sign.

Ten minutes later, after everyone had signed their names, Luo Ji took it over and looked at it carefully to see if there were any mistakes or modifications.No problems found.

Witnesses: Xu Youyu, Lin Qingji, Zhu Haowei, Yang Jian, Jeff Busker, Scooter Braun and Jamie Dutton.

These seven people were all carefully selected by me, and they helped me build a business empire from a young age. After getting along with them for so long, I can trust them.They also benefited a lot from Luo Ji's career growth.

These seven people check and balance each other, and believe that even if they die suddenly, there will be no big problem.

Luo Ji read the will carefully and then asked the camera to record the contents of the will.Then the camera was turned off and the making of the will was completed.

Luo Ji smiled and said, "Okay, everyone can relax. We have whatever you want to drink in the refrigerator."

The solemn atmosphere disappeared immediately, and everyone began to discuss in twos and threes.These people were all core members of Luo Ji's business empire, and they were all familiar with them.

Everyone drank wine and relaxed and chatted.

The more upright Yang Jian said: "Logic, I didn't expect you to leave 5% of Taylor's income in the second trust fund. By the way, what's so charming about her? Haven't you already broken up?"

"Yes, yes!" Several other people immediately cheered.

Luo Ji waved his hand directly and said angrily: "Drink your bar, why do you care about so many things!"

"Hahaha." The seven old men burst out laughing when they saw Luo Ji's reaction.

Luo Ji immediately didn't want to chat with these old men anymore. He got down to business directly: "Since you are so free now, let's go and save the will and video recordings in the bank safe."

"All right!"

…………

The original will and video were placed in Citibank, and the copies were placed in Huami Bank.

If Luo Ji died suddenly, at least four of them would have to be present together to have the right to open the bank safe and take out the will.

If there are any special circumstances, such as four people dying, then you can only apply to the court.

After finishing everything, it was already three o'clock in the afternoon when several people returned home.

After a few people rested at home for a while, Zhu Haowei said goodbye: "I'm going to leave first, and I have to deal with the company's affairs. Otherwise, I will have to work overtime today."

"I have something to do too! Let's go first."

Several other people also said goodbye. As New York's elite, these people are indeed very busy.

Luo Ji didn't stop him, he just warned, "Remember to come to the villa on Changdao tomorrow to attend my 19th birthday party."

(End of this chapter)