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Julie Garber

An Update on Farrah Fawcett's Estate

By August 1, 2009

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A few weeks ago it was speculated that Farrah Fawcett left at least part of her estate to charities that help battered women. But a new report posted on the Daily Mail website speculates that Farrah Fawcett left the bulk of her estate, estimated to be worth about $6 million, in a lifetime trust for the benefit of her 24-year old son, Redmond, with a small bequest to her alma mater, University of Texas. Redmond is currently incarcerated on drug related charges, and the source for the Daily Mail article stated that 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.

Daily Mail also reports that Farrah Fawcett's Last Will and Testament is set to be released within the next few weeks. With that said, only after the Last Will is admitted to probate will it become a public record and we'll be able to read its exact terms.

Comments
August 3, 2009 at 11:23 am
(1) Joan says:

Farrah attended the University of Texas, not Texas University.

August 3, 2009 at 11:41 am
(2) Julie Ann Garber, Esq. says:

Hi Joan, the information initially reported on Saturday was quoted directly from the Daily Mail website, which is published in the U.K. Thanks for pointing out their mistake, and I have updated the post to change the school’s name to University of Texas.

Sincerely,

Julie Ann Garber, Esq.
Your Guide to Wills & Estate Planning
email: wills.guide@about.com
http://wills.about.com

The information contained in this comment is not legal advice and is not a substitute for legal advice. For legal advice, please consult with an attorney.

August 5, 2009 at 8:09 pm
(3) Noelle says:

I don’t think that leaving all those millions to a son with an addiction will serve its purpose for him. I’m against this one-hundred percent. I’d like to know how much the “trust” will be paying him each month. Is the boy mature enough to handle the responsiblity of all that money. Money has a strange way of ruining people’s lives. I hope I’m incorrect in my judgement.

August 8, 2009 at 10:30 pm
(4) Hugh says:

Noelle:

While I don’t disagree with the notion that handing a young man struggling with addition a lifetime supply of money or a guaranteed lifetime income will help him, you have absolutely no standing to “agree” or “disagree” with this. You also have absolutely no place demanding to know how much income he will receive from the trust. Get off your high horse and get over yourself and worry about your own life. And try ending your questions with question marks. (“Is the boy mature enough to handle the responsibility of all that money?“)

By the way, the article makes it pretty clear that he won’t have control over the assets. It seems that Farrah may have understood the challenges her son faces and has done everything she can to protect him from himself.

August 10, 2009 at 11:09 pm
(5) Joanna says:

God Bless Redmond and may his Mother’s guardian angel guide him to a wonderful life away from addiction. Perhaps Redmond will move away from Crazy drug ridden Hollywood life back to Corpus Christi Texas for a normal happy simple life. Ryan can jump on a plane to visit him when he’s not chasing after other women and intoxicated with himself and booze.

June 24, 2011 at 12:45 pm
(6) lrs says:

Ryan O’Neil was her husband! why the heck can’t he keep her picture?! for all you know he paid for it! or she gave it to him!

anyway, possession is how-many 10ths of the law?

I say he should keep it, then it should go to Tatem if that is Farrah’s daughter, i don’t think so though.

he appreciates it best, it looks like!

money isn’t everything, i’m certain he does not keep it ‘for the money’.

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