The will of Philip Seymour Hoffman was admitted to probate this week. Despite sloppy media reporting about a trust for his son (I am looking at you Reuters and New York Daily News), the will left all of his $35 million estimated estate to his girlfriend, and mother of his 3 children, Mimi O’Donnell. The will also had an unusual request that his son be raised in NYC, San Francisco, or Chicago. The will was signed before the birth of his 2 daughters.
1. Wills should be reviewed after the birth of a child to ensure that the new baby is included and to ensure that the proposed guardian can adequately care for the additional child.
2. Hoffman’s estate will owe approximately $12 million in federal estate taxes on the 9 month anniversary of his death. The tax could have been delayed until the death of Mimi O’Donnell due to the use of the marital deduction if they had been married.
3. If the mainstream media will not employ fact checkers, I am available for $300 per hour to review and advise them on wills of famous people.
4. The 55 unused bags of heroin in his apartment were not addressed by the will.
5. NYC, Chicago, and San Francisco? Apparently diversity is good, but does not include being exposed to Republicans.