15-Year-Old Girl Inherited $25 Million After Actor’s Tragic Passing
Popular actor, tireless humanitarian, and generous philanthropist Paul Walker passed on tragically on November 30, 2013.
Walker and Roger Rodas, a friend and advisor, died in a car crash. His teenage daughter, Meadow, is the sole beneficiary of his entire estate worth $25 million.
Amidst their deep sorrow, the family has a couple of things going for them:
- Walker’s will called for his father to be executor of his estate, and his mother to be custodian of his daughter, to make sure Meadow is loved and supported until she’s ready to receive her full inheritance.
- He also made sure that if his daughter came into “big money” as a minor, she’d have the proper guidance and counsel to make best use of her inheritance.
This is a big lesson for those of us who who will pass on to our kids a large inheritance – and, I might add, who have purchased large insurance policies to safeguard it for them. A huge inheritance or lavish policy benefits can spoil people. They can also trigger undesirable tax consequences. Good planning, and a good support team to take care of the people you love, are essential to making sure good things can happen when tragedy strikes. Thankfully, Meadow Walker has a great support team (namely, her grandparents) helping her through this terrible time.
What else do you think we can learn from Paul Walker?