Ozzy Osbourne was not only a rock legend. He was also the protagonist — thanks to his wife Sharon — of one of the most comprehensive estate planning strategies in the entertainment world.
He died with a clear will, smart clauses, and structures like trusts and ILITs to protect image rights, royalties, real estate, and more. All legal, efficient, and bulletproof.
But… what if Ozzy had been a tax resident of Chile?
Many of those structures would not have worked the same way. Latin American legal systems have significant limitations, and in Chile’s case:
Trusts are not fully recognized by the SII (Chilean tax authority).
A Chilean will cannot impose perpetual conditions like an irrevocable trust.
Foreign donations may be taxed as income.
Life insurance is not always excluded from the estate for inheritance tax purposes.
So, what can we learn?
The importance of structuring internationally: using vehicles that are legally valid in the jurisdictions where your assets actually reside.
Not leaving decisions to the last minute: Ozzy planned while alive. That is the key.
Thinking beyond a single will: trusts, insurance, corporate vehicles, protocols — everything must be designed.
Protecting intellectual property: your brand, your voice, your rights… are part of your legacy.
At LegalKap we help artists, entrepreneurs, and executives plan internationally, with structures that work here… and there.
Because if you don’t know where you are taxed, what is taxed and how, you may not control who inherits your story.