A man known for his wild parties, left provisions in his estate plan that limit the ability of his heirs to do too much partying of their own.
Hugh Hefner is known for many things, including the extravagant parties he hosted at his Playboy Mansion. They were often described by celebrity guests as wild affairs that went long into the night.
It is somewhat strange that Hefner’s estate plan seemingly limits how much partying and what type of partying his heirs can do.
His trust contains provisions that allow the trustees to stop distributions to any beneficiary suspected of frequently taking illegal drugs or being dependent on alcohol or drugs. The trustees can even request drug testing and treatment of beneficiaries. If the beneficiaries stay sober for at least a year, the trustees can resume distributions.
Page Six reported on this story in “Hugh Hefner demands that heirs stay sober.”
These provisions in trusts are often called good behavior clauses. They are an increasingly popular way to make sure that the heirs of the wealthy do not waste their lives and inheritance money doing nothing productive.
The clauses are meant to ensure that the beneficiaries maintain their own careers and healthy lifestyles. Beyond just policing for drug use, good behavior clauses often require that beneficiaries stay in school, maintain jobs, raise a family and more.
If you are concerned about what your heirs might do with their inheritances, then talk to an estate planning attorney about a trust with a good behavior clause.
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