Farrah Fawcett died on June 25, 2009, and the contents of her revocable living trust were revealed to the public in November 2009 when somehow the website RadarOnline.com obtained a copy of the trust agreement.A complete review of the 54-page document, called 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, reveals the following:
- All of Farrah Fawcett's art work has been left to the University of Texas at Austin.
- All of Farrah Fawcett's other personal items, such as jewelry, clothing, furniture, collectibles, and the like, have been left to her nephew, Greg Walls.
- The sum of $100,000 has been left outright to an ex-boyfriend, Gregory Lawrence Lott.
- The sum $500,000 has been left outright to nephew Greg Walls.
- The sum of $4,500,000 has been left in a lifetime trust for the benefit of Farrah Fawcett's only child, Redmond. Producer Richard Francis is named as the Trustee of this trust. When Redmond dies, anything remaining in his trust will be distributed to The Farrah Fawcett Foundation, which is described below.
- The sum of $500,000 has been left in a lifetime trust for the benefit of Farrah Fawcett's father, James Fawcett, who is still living. Producer Richard Francis is also named as the Trustee of this trust. When James dies, anything remaining in his trust will be added to Redmond's 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.
Of note is the fact that Farrah Fawcett chose to leave an ex-boyfriend, Gregory Lawrence Lott, a specific sum of money but she completely cut out her longtime lover and the father of Redmond, Ryan O'Neal.