The executors of Lauren Bacall’s estate filed her will in probate court on Friday. Her will, which she executed last fall, left her $27 million estate in equal shares to her 3 children save for a few small five figure bequests to household staff and to her son to care for her dog. She also left $250K to each of her grandsons to be used for college with them receiving the remainder at the age of 30.
1. A funded trust would have provided her privacy so the public would not know about her intentions.
2. A trust would also be a more efficient means of managing the funds for her grandsons.
3. With college tuition increases not grounded in economic reality, I hope the $250K is enough to fully cover college expenses for her grandsons.