Things were all quiet on the Farrah Fawcett estate front until yesterday when the contents of Fawcett's Revocable Living Trust were revealed. Somehow the website RadarOnline.com obtained a copy of The Third Amendment to and Complete Restatement of the Fawcett Living Trust dated December 5, 1991 which was signed by Farrah Fawcett on August 9, 2007. A complete review of the 54-page document reveals the following:
- All of Fawcett's art work has been left to the University of Texas at Austin.
- All of Fawcett's other personal items have been left to her nephew, Greg Walls.
- $100,000 has been left outright to ex-boyfriend Gregory Lawrence Lott.
- $500,000 has also been left outright to Greg Walls.
- $4,500,000 has been left in a lifetime trust for the benefit of Fawcett's son, Redmond. Producer Richard Francis is named as the Trustee of this trust.
- $500,000 has been left in a lifetime trust for the benefit of Fawcett's father, James Fawcett, who is still living. Producer Richard Francis is also named as the Trustee of this trust.
- The balance of Fawcett's estate has been left to The Farrah Fawcett Foundation, a private foundation founded by Fawcett in 2007 that is dedicated to funding cancer research.
- Two interesting twists - when Redmond dies the balance of his trust will be distributed to The Farrah Fawcett Foundation instead of to Redmond's children and when James dies the balance of his trust will be added to Redmond's trust.
- As previously reported, Fawcett's longtime lover and the father of Redmond, Ryan O'Neal, is not a beneficiary of the trust.
In the end not too exciting but perhaps quite revealing as to Fawcett's true feelings towards Ryan O'Neal vs. Greg Lott. And please, for those websites and TV shows that have reported on the contents of Farrah Fawcett's will take note - a Revocable Living Trust is NOT the same thing as a Last Will and Testament.