Details surrounding fate of Walker estate laid out in will

Posted by Angela Holliday Hansen Esq. | Feb 16, 2014 | 0 Comments

Movie fans in Maryland may have heard of the death of Paul Walker at the age of 40 on Nov. 30 in Santa Clarita, California. Walker was best known for his role in the ongoing "Fast & Furious" movie franchise. A recent report has revealed details concerning the man's estate.

The report says that Walker had a 15-year-old daughter, and the late actor reportedly left her in sole ownership of his $25 million estate in his will. She reportedly lives with her mother, who was never married to Walker. The man also named his father to be the estate's executor in his will, which is dated Aug. 15, 2001.

According to a probate petition filed Jan. 28 by Walker's father, the estate consists of $8.5 million in real estate, $8 million worth of personal property income and actual personal property worth $8.5 million. Additionally, Walker's mother was also designated in his will as his daughter's legal guardian.

As the named executor of Walker's will, his father will be in charge during the process of estate distribution. The process, however, can be difficult to navigate, especially in cases involving a large amount of assets. For example, Walker's father may be required to pay any outstanding obligations and liabilities tied to the estate while attempting to distribute the assets according to the provisions of the will.

Individuals who have suffered the loss of a loved one may benefit from working with a lawyer who has experience in the distribution of estates. Such a lawyer may be able to help clients with the valuation of assets and help develop a plan for fulfilling the deceased's obligations and outstanding debts.

About the Author

Angela Holliday Hansen Esq.

Angela Holliday Hansen, Esq., is a former big firm corporate attorney who now practices family law in Rockville Maryland. Ms. Hansen oversees complex estate administration and drafts...

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