WILLS OF THE FAMOUS
Linda McCartney (1942-1998)
On her death in April 1998, Linda McCartney, a crusader for animal rights and vegetarianism, left her substantial fortune to her husband Paul, the former Beatle. Linda McCartney set up a trust that makes her
estate virtually exempt from
taxes.
John F. Kennedy, Jr. (1960-1999)
John F. Kennedy, Jr. planned to leave the bulk of his holdings to his wife, Caroline Bessette-Kennedy, or their children. But John and Caroline died together in a plane crash last July without leaving any issue. Therefore, his property will go to the children of his sister, Caroline Kennedy Schlossberg. The bulk of his estate is left to the beneficiaries of a trust he established in 1983. Kennedy also left the scrimshaw, or carved whale ivory, set once owned by his father to nephew John B.K. Schlossberg. Kennedy's cousin, Timothy P. Shriver was named executor of the will. Kennedy's estate is reportedly worth $100 million.
Joe DiMaggio (1914-1999)
According to his will, "The Yankee Clipper" set up trusts for Joseph Jr., his grandchildren Katherine and Paula, and his great-grandchildren, Kendall and Mitchell Stein, and Valerie and Vanessa Hamra. The Steins will receive $250,000 each while the Hamras will receive $500,000 each. The remainder of DiMaggio's estate will be divided among his son and his two grandchildren.
Diana, Princess of Wales (1961-1997)
When Princess Diana died tragically on August 31, 1997 she left behind
a 21.5 million pound (approximately $35 million) fortune, most of
which was bequeathed to her sons, Prince William and Prince Harry. The
inheritance will be held in trust for the two princes until they reach
the age of 30. In her will made public on March 2, 1998, Diana also
left 50,000 pounds to her former butler, Paul Burrell, and set aside
personal momenta for her 17 godchildren.
Marilyn Monroe (1926-1962)
The legendary sex symbol, who tragically committed suicide in 1962,
left most of her fortune to her friends and family.
Warren Burger (1907-1995)
The former Chief Justice of the Supreme Court left behind a
self-written, 176-word will. He gave his entire estate to his two
children. But he failed to give any power to his executors and made no
provisions for estate taxes. These apparent oversights will cost the
estate thousands of dollars.
Doris Duke (1913-1993)
The tobacco heiress had a $1.2 billion estate that was the subject of
much litigation. A New York judge ordered the removal of two
co-executors of Duke's $1.2 billion estate. The court found that
Duke's butler Bernard Lafferty was squandering her estate to support
his "profligate life style" and that United States Trust Company
failed to slow down Lafferty's spending.
Jerry Garcia (1942-1995)
The leader of the Grateful Dead was a counterculture icon. In his
will, he remembers friends and family, giving out personal mementos,
including his guitars.
Harry Helmsley
The New York billionaire real estate magnate Harry B.
Helmsley, whose holdings included the Empire State Building and some
of
New York City's most posh hotels, died Jan. 4, 1997, leaving an estate
estimated at $1.7 billion. Except for a bequest to his secretary,
Helmsley left his estate to his wife, Leona Helmsley, who is also
named as executor of
the will.
David Packard (1912-1996)
The co-founder of Hewlett-Packard left the majority of his holdings,
estimated at $6.6 billion, to the charitable foundation named for him
and his late wife. The transfer of assets made the David and Lucille
Packard Foundation one of the wealthiest charities in the world.
"Shoeless" Joe Jackson (1889-1951)
The legendary baseball player was permanently banned from the game for
his part in the "Black Sox Scandal" of the 1919 World Series. His will
was the subject of litigation in 1995 when two charities who were
beneficiaries of his wife's estate sued to gain possession of the
original because of its value to sports memorabilia collectors.
John Lennon (1940-1980)
The Beatles' singer, songwriter and guitarist, who sang "imagine no
possessions" in the popular hit "Imagine," left most of his property
to an estate controlled by his wife, Yoko Ono.
Richard Nixon (1913-1994)
The only president to resign from office gave specific instructions
for the handling and disposal of personal notes and records.
Jacqueline Kennedy Onassis
(1929-1994)
As first lady, Onassis planned the restoration of the White House and
urged Congress to declare it a national museum. The art and personal
possessions she collected have fetched large sums in recent years at
celebrity auctions.
Elvis Presley (1935-1977)
Known as "The King," Presley sold more than 45 million records and
starred in 33 motion pictured. He left much of his vast fortune to
members of his family.
Babe Ruth (1895-1948)
"The Sultan of Swat" grew up in an institution for underprivileged
boys. Dominating baseball as a home run hitter, Ruth became a national
celebrity. Famous for his charitable deeds, he once promised to hit a
homer for a hospitalized boy. A year before he died, he established
and endowed the Babe Ruth Foundation for destitute children.
|