Contact Us For A Consultation
302-644-7181 Lewes
302-697-4900 Camden

How estate planning could affect Hugh Hefner's widow

As most people in Delaware probably already know, Playboy magazine founder Hugh Hefner recently died at the age of 91. What many people may not have known is that Hefner was married in 2012. According to press releases, Hefner's estate planning provides for his widow, but does not provide her with an inheritance from his estate. Considering the state of many celebrity estates that have been in the news, sources can only guess at how he accomplished this at this point.

One source believes that Hefner may have set up a trust for his widow that provides her with income, but limits her access to any principal in some way. This may be through what it called a Qualified Terminable Interest Property trust. This type of trust could provide her with income, but will not involve her in the administration of the trust. Upon her death, anything remaining in the trust may go to Hefner's children.

Other possibilities that may be less likely are an irrevocable life insurance trust, which would also provide her with a steady income. In the alternative, he may have set up an annuity for her. It could be some time, or not at all, before anyone knows the specific details, but what is known is that his children appear to be inheriting the bulk of his estate.

It should be noted that another part of Hefner's estate plan involved the execution of a prenuptial agreement that more than likely outlined what would happen upon his death. The point is that estate planning provided Hefner with a way to provide for his third wife while ensuring that his children inherit his estate. Delaware residents in a similar situation (albeit probably not with this amount of money at stake) can do the same for their spouses and children from prior relationships.

Source: investmentnews.com, "How will Hugh Hefner's estate 'look after' his widow's finances?", Greg Iacurci, Sept. 29, 2017

No Comments

Leave a comment
Comment Information

What Our Clients Say About Us…

My wife and I would like to take this opportunity to highly recommend the legal practice of Bonnie Benson and her very professional staff… Bonnie and her staff are organized, engaged in the client's case and they communicate effectively.

Read More
Latest Blogs
Get The Help Now

Need Answers Now? Contact Us Immediately

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

your success. our commitment. elder counsel excellence in elder law  and special needs state bar delaware association

Camden Office
306 East Camden Wyoming Avenue
Camden, DE 19934

Phone: 302-697-4900
Fax: 302-697-4901
Camden Law Office Map

Lewes Office
33718 B Wescoats Road
Lewes, DE 19958

Phone: 302-644-7181
Fax: 302-644-7182
Lewes Law Office Map

We Accept visa mastercard discover network
Review Us