Estate Planning

Farrah Fawcett's Estate

By Hull and Hull LLP

Shortly after Farrah Fawcett's death in June 2009, there was some controversy over the terms of her last Will. The bulk of her estate was apparently left in a lifetime trust for the benefit of her 24-year-old son, Redmond. The purpose of the lifetime trust, which Redmond will never personally control, is to provide support to him during his struggle with drug and alcohol addiction. Part of Fawcett's estate was also left to her father, and The Farrah Fawcett Foundation, a private foundation founded by Fawcett in 2007 and dedicated to funding cancer research. Nothing was left to Fawcett's long-time partner and the father of Redmond, Ryan O'Neal. 

There is now renewed controversy involving the late actress' estate. Fawcett's estate recently sued the producer who collaborated on a documentary with her, claiming, among other things, that he misused her company's funds. The producer has retaliated, claiming in his responding materials that the estate has withheld money from some of its beneficiaries and that the lawsuit against him is an example of the estate trustee's misuse of estate funds. 

Surely, Farrah Fawcett did not wish for her estate to be embroiled in controversy but as we who practice estate litigation know all too well, testators can never fully control events surrounding their assets and estate after death.  

Thanks for reading,

Bianca La Neve

Full post as published by Toronto Estate Law Blog on April 09, 2010 (boomark / email).