I was wondering if anyone has a copy of Freddies will I can't seem to find it anywhere online. If not I have another question, I read somewhere a long time ago that Freddie left Mary the house on lease and he left her it because it she had young children and wanted security for them does anyone have any record of this, a source perhaps or does anyone know where I read this? Thanks
Hi Rachel,
I've seen parts of the will though do not have a copy of it. The gist is that Freddie had 3 primary beneficiaries:
1. Mary Austin: 50% of his estate & future income + use of the the house and related properties for a 'vesting period' of 50 years from his date of death.
2. Kash (sister): 25% of his estate and future income.
3. Jer & Bomi (parents): 25% of his estate and future income. Their portion goes to Kash upon their death.
He left the following to specific people:
- 500K tax free each to Jim Hutton, Phoebe, and Joe Fanelli
- 100K tax free to Terry his driver
He also had a trust established in which his executors would administer his various business interests, income, sales of existing properties (NY condo) etc. and distribute the income to the beneficiaries. Jim Beach manages that.
The will doesn't say *why* Freddie left the house to Mary, only that it's for her to use for the vesting term. The vesting term is 50 years. After that the house will go to his trust for whatever purposes his trust administrators decide. Mary has another 22 years to go for her usage. The house will not pass to her children since it's on "lease" for 50 years. The expenses for upkeep, taxes, and all of that are covered.
That's as much as I remember. Hope that helps.
I really not sure about the house being included in the 50 years part of the will. The house was begueathed to Mary the same as the will says 500k was bequeathed to Jim, Joe and Peter and 100k to Terry.
The part about the vesting period is to explain the will has this built into it.
Bequest is when you receive money or property etc in a will, that gift is known as a bequest. It is making sure the right person will get certain goods after death.
The vesting period relates more to the royalties etc. After 50 years the money stops going to Mary etc etc and is directed to two charities he has named. I can't remember which ones.
This is probably because he realised 50 years from his death it is unlikely Mary and co would still be alive so they wouldn't need his money.
what are you trying to prove Rachel.
I feel you are a Jim hater and are looking for information to discredit him .
See your post on another thread below:
Hi, sorry if this isn't in the right place but I was wondering if anyone can give me links or other sources that show Jim wasn't just Freddies gardener and that they were in a relationship. Also proof that, Freddie asked Jim to move to Munich, Jim leaving money from his book to a hospital, Jim loaning money to a friend, Jim caring for Freddie when he was ill, Freddie changing and becoming at peace due to his relationship with Jim, when Freddie found out about his AIDS. Basically ALL sources that anyone has to defend Jim.
doughnut wrote:
what are you trying to prove Rachel.
I feel you are a Jim hater and are looking for information to discredit him .
See your post on another thread below:
Hi, sorry if this isn't in the right place but I was wondering if anyone can give me links or other sources that show Jim wasn't just Freddies gardener and that they were in a relationship. Also proof that, Freddie asked Jim to move to Munich, Jim leaving money from his book to a hospital, Jim loaning money to a friend, Jim caring for Freddie when he was ill, Freddie changing and becoming at peace due to his relationship with Jim, when Freddie found out about his AIDS. Basically ALL sources that anyone has to defend Jim.
No, no, no I'm so sorry if I gave that impression I love Jim so mcu. I'm actually trying to prove that he was a lovely man and that he and Freddie were in a relationship. In other words I'm actually on a mission to stop a Jim hater and am trying to defend him with as much information as I can.