Details emerge about the estate planning of comedian Joan Rivers

by | Dec 22, 2014 | Estate Planning |

Earlier this year, the famous comedian Joan Rivers died after suffering complications during a surgery to repair damaged vocal cords. The comedian’s daughter has since been named as the executor of the late comedian’s estate.

In a will dated November 2011, and filed earlier this month with the New York Surrogate’s Court, the late comedian expressed her desires to transfer her wealth upon her death. The document reportedly expresses Rivers’ intention to leave her estate to a select few relatives, members of her staff, several charities and her pets.

The wills specifies that the estate, which is estimated at $150 million, will primarily be transferred to Rivers’ daughter and grandson as well as Rivers’ niece and nephew. The late comedian’s staff that includes two long-serving assistants and a former publicist will also receive a portion of the estate.

Rivers was the author of 13 books, and she also had a lucrative arrangement to sell jewelry and other products associated with her name on the televised shopping network QVC. At the time of her death at 81-years-old, it is estimated that Rivers’ annual income was around $50 million per year. Prior to her death, Rivers was living in a New York City apartment in Manhattan that she told interviewers was worth an estimated $35 million.

The late comedian was also very fond of four dogs that she had rescued. Rivers make certain that her will also contained provisions for the well-keeping of those pets.

If you are a New York resident, you need to know that when you die, your assets and property will be properly transferred to the right beneficiaries. That is why investing a little time now to do some planning for the future of your estate is so vital. Your New York estate planning attorney can help you form wills, powers of attorney and other critical documents that will ensure that your intentions are properly executed.

Source: Business Insider, “Here’s What Will Happen To Joan Rivers’ $150 Million Estate” Aly Weisman, Dec. 21, 2014