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Frey’s Estate Is $100,00 and a Family Trust

| Dec 12, 2017 | Estate Plan |

Estate of co-founder of the Eagles is not unusual, but is certainly interesting.

Glenn Frey, one of the co-founders of the Eagles along with Don Henley, died recently and left his wife the entire estate which included a trust, according to TMZ in “Glenn Frey Eagles Legend Left Everything To Wife.”

The will does contain an interesting provision that illustrates how many wealthy people choose to handle their estate plans.

The assets listed in Frey’s will only amount to $100,000. It is highly unlikely that Frey, one of the most successfully musicians in rock music history, did not have a lot more wealth than that. The court documents mention that he also left behind a family trust.

This suggests that the bulk of his assets are in the trust to be distributed to his wife and their three children at some point.

An important takeaway from this?

The proper way for wealthy people to leave assets to their families is a trust used for most (or all) of the assets and a will used for the remainder.

It is also of note is that we know the details of the will.

Why?

It has to go through probate which makes it public.

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