With the passing of celebrities from musicians Tom Petty and Linkin Park’s Chester Bennington, to controversial personality Hugh Hefner in recent weeks. Like us, celebrities are also in need of sorting their inheritance for the future of their families. But who inherits the big money celebrities earn?
So with the latter, Mr Hefner made no secret of his multi-millionaire worth during his somewhat vexed career as the magazine publisher and editor-in-chief of the Playboy magazine. However, the jet set life of came to an end for the 91-year-old who died at the end of September. His net worth was estimated to be at least $43 million, with his global brand estimated net worth thought to be at least $110 million.
However, Hef’s last will and testament has not been made for public consumption, but as a result of his death he leaves behind his 31-year-old third wife Crystal Hefner and four children from previous relationships, Christie Hefner, 64, David Hefner, 62, Marston Hefner, 27, and Cooper Hefner, 26.
It is unclear if Crystal will inherit any money from Hef. But contrary to reports, Crystal was not added to Hef’s will, which instead is set to be distributed among his children, the University of Southern California film school and a variety of charities of his choice.
This may not bother Crystal too much, as in 2013, she and Hugh bought a $4.995 million Hollywood Hills abode – she is still listed as a co-owner according to property records.
Hef founded Playboy Enterprises and his famous Playboy magazine in 1953, but it’s fair to say he had his finger in other pies during his illustrious career. The amount of money gained from these projects would have been extortionate to say the least.
But due to a confusing and testament outlined by Hef’s family, assets could disappear without trace. This is why employing a will service to take care of this in the future for your loved one is paramount to the deceased wishes of passing money or items down the family tree.
While Hef himself may have written a Will, it is a misconception that your document is only for deciding how to divide your estate, organising your Will to ensure any dependent children are cared for by people chosen by you, as well as any care needs you may have later in life, will take a potentially very complicated decision out of your family’s hands and reduce the strain at such a difficult time.
A combination of saving money and time, as well as specialist skills from across the entire legal spectrum need to be ensured when it comes to thinking about a last Will and testament, whether you’re a celebrity or not.
At Will Protect we ensure that not only are your assets passed to the people you care about, freeing them of any unnecessary stress and hassle at what is already a difficult time, but more so that provision is made for those in need of any potential care after your departure.
If you or your family are in the process of discussing the possibility of creating a Will for a loved one, then we are here to help. Call Will Protect today on 0345 894 8441 or email us via firstname.lastname@example.org.