Jeffrey Jampol has become the go-to guy for managing boulder estates, avoiding the various kinds of legal chaos that has paralysed many legends fortunes
No one here gets out alive, as stone legend Jim Morrison once sang. But sadly for many of the rock greats it has become almost a cliche that successful musicians and groups are more valued in the grave than in life.
Few people understand that better than Jeffrey Jampol, an L-Abased specialist whose JAM Inc manages the rock estates of Otis Redding, Kurt Cobain, the Doorways, Rick James, Ramones and Muddy Waters among others, as well as advising the co-executors of Michael Jacksons estate.
With the roll call of potential names Jampol could add to his stable increasing as the grim reaper runs about his harvest in rocknroll hall of fame, Jampol says the heirs to these estates face two key challenges: how to prevent the kind of legal chaos that has paralysed many legends fortunes, like the mess that took over James Browns estate following his death in 2006, and how to protect and manage that legacy once freed of warring heirs and factions.
Jampol, who at one time helped manage New Order in the US, has become the go-to guy for this type of management. Get it right can generate a fortune.
Michael Jacksons estate is far wealthier now by virtue of the fact that the singer is not around to expend the proceeds or put a wrench in managements schemes. The King of Pop has earned more than$ 1bn before taxes since his death, according to Forbes,enough to pay off his personal debts and then some.
The same is true of the Ramones. The bands lucks suffered from a long war of attrition between Joey, the vocalist, and Johnny, the guitarist, that was carried on by their heirs long after their deaths. Jampol helped to settle grievances so that the current Ramones display at the Queens Museum in New York could take place.
This is not the music business. This is the pop culture legacy business. I tell clients, if you think its about the music, youve already failed, Jampol told the Guardian. By that logic, youd believe the magic of James Dean was his acting. It wasnt.
Merely re-issuing an artists work is not enough. Even in the case of Prince, who died intestate( without a will ), the mysterious vault said to contain hundreds of unreleased ways might be no more than a curiosity to collectors that does little to connect Prince to a new generation of fans the lifeblood of any legacy act as established fans are lost to natural attrition.
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