Fast & Furious star Paul Walker left his entire $25 million dollar estate to his 15 year old daughter. According to his will, which you can view here, the actor nominated his dad as executor of his estate and his mom as the guardian of the assets he left for his daughter.
There are a number of things to note:
- While his will mentions a trust, it is clear the trust, if it exists, was never properly funded. If it had been, there would not have been a need for his family to probate his estate.
- A will is public. The reason we, and anyone else for that matter, can view the late actor’s will and know how much he has, who is in charge and where it is all going, is because wills become public once probate is begun.
- Unless there is some other provision of the late actor’s estate plan that is not yet known about, his daughter will most likely inherit her father’s $25 million dollar estate outright and unprotected once she turns 18.
The lesson is that through proper planning, the actor’s estate could have been kept private and the money he left for his daughter could have been held, managed, and protected for her until she reached an age or ages when she would be better prepared to manage that much money.
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