CARRIE FISHER'S ESTATE DETAILED IN PROBATE PAPERS
According to probate papers filed in California on May 20, Carrie Fisher's estate is worth about $6.8 million. The documents, which were filed in the Los Angeles Superior Court, state that the administrator of the estate has performed all of the duties required of him and all costs associated with administering the estate have been paid. Under the terms of Fisher's last will and testament, the assets will be added to the Carrie Fisher Living Trust.
The trust's beneficiary is Fisher's 26-year-old daughter, and its trustee also acted as the estate's administrator. According to court documents, the trustee can use his discretion to determine how assets will be distributed, which will take place after federal and state inheritance taxes have been paid. The trust was established about three weeks after the 60-year-old actress passed away in December 2016. In addition to investment and bank accounts, the estate includes memorabilia and collectibles, an automobile, and publicity rights associated with Fisher's acting career.
Fisher is best known for her portrayal of Princess Leia in the 'Star Wars" series of films. She was the daughter of Hollywood icon Debbie Reynolds, who passed away at the age of 84 just one day after Fisher died. A hearing to consider the administrator's petition is scheduled to be held on July 29.
The release of this kind of information is part and parcel of the public probate process. Attorneys with estate administration and probate experience could suggest using trusts to individuals who would prefer to keep these matters private. When assets are placed into a trust rather than listed in a last will and testament, probate is unnecessary because they are owned by the trust and not the estate.
Source: Fox 5 San Diego, "Carrie Fisher estate valued at $6.8M", City News Service report, May 24, 2019
Related Posts: BIG NEWS ON TRUST TAXATION, Deceased musician's estate involved in financial dispute, Tom Petty's family feuding over his estate, Estate administration in California