Who Will Inherit From Hugh Hefner’s Valuable Estate?

On September  27, 2017, Hugh Hefner died of natural causes. He is best known for his role as the founder of Playboy Magazine. Who will inherit Hefner’s wealth? How much was the popular businessman worth? After learning of this death, it is hard not to wonder where his fortune is headed. The media has suggested that he has died with a will. What does this mean for his family?

On September 28, 2017  Fox News reported that Hefner died.Other media sources indicate that he may have had an estate plan in place. Now that he is dead, who will inherit his wealth? Did the 91 year old have a will or an estate plan? West Palm Beach will lawyers and probate litigators encourage clients to create some sort of estate plan, as it can prove to be very beneficial even while you are still alive. For example, if you become incapacitated, a good estate planning attorney may be able to help you avoid a Florida guardianship and protect your wealth that you are no longer able to manage. Probate lawyers know that it is not very expensive to create a Florida will, revocable trust or living trust and they can be completed quickly. Therefore, many people do not have an excuse. Why should I bother to have an estate plan? Because, if Hefner did not leave behind a will, his estate will pass by a state law that controls who inherits property when someone dies without a will. In most states, this is called intestacy law or dying intestate. Florida litigators know that, when you die intestate in Florida, heirs inherit. The intestacy laws are probably very similar in California where Hefner died. At his age, it is likely that he did have a will in place. He left behind a 31 year old wife and four children, which may lead to some probate drama in the near future.To read more, click here.