12 Oct DITKA’S ESTATE PLANNING DID NOT FUMBLE
Mike Ditka, the legendary football coach of the Chicago Bears, had an 89% chance of a game plan for his complicated estate plan according to DraftKings (writer’s embellishment) due to his shrewd business transactions. Although the details of his estate plan have not been made public since his death on October 9, 2026, it is anticipated that he had a living trust to handle his $30 million estate that included commercial real estate, a woman’s football league (the X League) and intellectual property such as Mike Ditka resorts near Orlando and Ditka’s Restaurants in Chicago and Pittsburgh. He also co-branded with Vienna Beef Ditka Sausages, Camacho Cigars and Mike Ditka Wines.
A living trust is private. This is different than a will (which is open to public knowledge after an application to probate is filed). Additionally, after the will has been approved to be valid, an inventory of the assets is also often of public record. Furthermore, if one has a will and owns property in more than one state, then ancillary probate (probate in the state other than the state of residence of the decedent if property is owned in another state) is required. Ditka previously owned property in Florida. If he had not sold that property, and he only had a will (not a trust), then he would be required to not only probate his will in the state of his residence (Illinois), but also ancillary probate would have subsequently been required in Florida.
It is anticipated that his planning through a private trust will also avoid federal estate tax.
Ditka is survived by his spouse. He also had 4 children from his first marriage. Trusts within his estate plan (whether by will or trust) can result in doubling the federal estate tax limit (presently $15 million) by the time the surviving spouse dies. Preservation of the step-up in basis (a recalculation of basis to eliminate capital gains tax on appreciated assets) was also likely addressed. Furthermore, instead of giving his entire estate outright to his wife, he could have a trust within his trust for the benefit of his wife which could name his children after her death. Otherwise, if all went to her outright, then she could give the entire estate to someone other than what Ditka would have wanted.
If he had a trust, it also probably planned for the management of his intellectual property (licenses, use of name, image and likeness, etc.) in addition to his interest in partnerships and other business interests and for a smooth and quicker transition to his beneficiaries (likely his surviving wife), rather than facing the delays that are often required in the probate process.
“Da Coach” most assuredly had a good game plan. Do you?
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