Paul Walker's teenage daughter named sole beneficiary of late actor's $25 million estate

Paul Walker's teenage daughter is the sole beneficiary of the actor's estate, which is valued at an estimated $25 million, court records show.

The star's final will and testament was filed Jan. 28 in Santa Barbara and calls for his father to serve as executor of the estate and for his mother to serve as guardian of the actor's 15-year-old daughter.

The will was prepared and signed in 2001, the same year Walker starred in the first "Fast & Furious" film that launched the successful film franchise and will continue generating millions for the actor's estate.

Walker, 40, died Nov. 30 in a fiery car crash in Los Angeles County. He was a passenger in a specialty Porsche driven by friend and financial adviser Roger Rodas that burst into flames after colliding with a light pole and tree.

A coroner's report said investigators found no mechanical problems with the Porsche, which may have been going 100 mph or more before it crashed.

Much of the actor's wealth came from unspecified personal property, which is currently worth $8 million, and a home worth an estimated $10 million, court filings show.

The records show Walker's estate is expected to earn another $8 million, some of which is likely related to the seventh "Fast & Furious" film scheduled to be released in April 2015.

Shooting of the film was halfway complete when Walker was killed. Universal Pictures has said Walker will remain in the film but hasn't laid out how it will handle footage that had already been shot. The actor appeared in all but one installment of the popular street racing films.

An initial estate hearing has been scheduled for Feb. 20 in Santa Barbara Superior Court.

The filings call for the actor's father, Paul William Walker III, to have authority to sell or invest estate property as needed. Walker's mother, Cheryl Ann Walker, is named as the guardian of the actor's daughter, Meadow, and also was appointed to oversee her portion of the estate until she reaches adulthood.

Details about the will were first reported Tuesday by celebrity website TMZ.com.

Comments

Mario Balotelli: AC Milan reject claims the striker is about to leave

AC Milan have released a statement to deny speculation that Italy striker Mario Balotelli could leave in January. They were responding to reports in Italy that Milan president Silvio Berlusconi had decided to sell him. "AC Milan firmly and absolutely deny statements that have been attributed to the chairman about Mario Balotelli being put on the transfer list," the Serie A club's statement said . The ex-Man City striker has scored six goals in 12 league games this season. He moved to the San Siro in January for an initial fee of 22m euros (£19m). Last season he racked up 12 goals for the seven-time European champions in only 13 Serie A appearances.

Al-Jazeera demands Egypt release four journalists

Qatar-based broadcaster Al-Jazeera has demanded the release of four of its journalists seized by Egyptian police in Cairo at the weekend. They include its Cairo bureau chief Mohamed Fadel Fahmy and former BBC correspondent Peter Greste. The journalists had held illegal meetings with the Muslim Brotherhood, the interior ministry said. Al-Jazeera said it had been "subject to harassment" although not officially banned from working in Egypt. There has been a crackdown on the Muslim Brotherhood since the army ousted President Mohammed Morsi in July. Last week it was declared a terrorist group. In the past six months, more than 1,000 pro-Morsi protesters have been killed in clashes with security forces, and thousands of Brotherhood supporters have been arrested, including the majority of its leadership. A court will hear a case to disband the Brotherhood's political wing, the Freedom and Justice Party (FJP), on 15 February. 'Arbitrary' The four journ...

Obama in Saudi Arabia for talks overshadowed by mistrust

US President Barack Obama sought Friday to allay Riyadh’s criticism of his policies on Syria and Iran, telling the Saudi king their two countries remain in lockstep on their strategic interests. He also assured King Abdullah that the U.S. won’t accept a bad deal” with Iran, as global powers negotiate a treaty reining in Tehran’s controversial nuclear program. The president underscored how much he values this strategic relationship,” a senior U.S. official said, after Obama met for some two hours with the king on a royal estate outside Riyadh. In an interview aired on U.S. television later Friday, Obama defended his administration’s decision not to use military force in Syria, saying that the United States has its limits. The U.S. leader’s comments came in an interview taped ahead of his visit to Saudi Arabia, which was angered by his eleventh-hour decision last year to pull back from strikes against the Syrian regime over its use of chemical weapons in the country’s civil wa...

INITZA.COM

Search This Blog