The comedy world lost an icon in September when Joan Rivers lost her life to complications during a surgical procedure. Much has been made about the impeding medical malpractice lawsuit, the investigation against the Yorkville Endoscopy Clinic, and the citations issued by the Centers for Medicare and Medicaid Services.
Questions also abounded over how Rivers’ fortune would be passed on. She often joked about how her daughter, Melissa, would inherit everything she had. In a recent Comcast.com story, details about Rivers will were made public. As expected Melissa was name executor to Rivers’ estate and was given broad powers to administer her estate.
Indeed, the estimated value of her estate (rumored to be nearly $150 million) may lead to substantial estate taxes, but a substantial portion appears to be set for donations to her favorite charities. They include, but are not limited to, the Cystic Fibrosis Foundation, the Guide Dogs for the Blind Foundation, God’s Love We Deliver and the Jewish Guild for the Blind.
The will also provided for other beneficiaries, including her grandson, niece and nephew. Undisclosed amounts were also left to Rivers’ publicist and long-time assistants. It was said that she was generous to her staff, almost to a fault. This was also revealed in the will.
Of course, you don’t need a multi-million dollar fortune to plan for the future and to make provisions to donate your estate to charities you have connections to, but an experienced estate planning attorney can help you reach your goals.
The preceding is not legal advice.