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Paul Walker's Will

$25 Million Estate

Curious Language

2/4/2014 12:50 PM PST BY TMZ STAFF
EXCLUSIVE

0204_paul_walker_tmz
Paul Walker was worth $25 million when he died and there seems to be some possibility of a family conflict ... this, based on new documents obtained by TMZ.

We've obtained a copy of Paul Walker's will. Walker left his entire estate -- $25 mil -- to his 15-year-old daughter Meadow. 

Paul's dad -- the named executor -- filed Paul's will with the court.  Paul's dad has petitioned the court to appoint Paul's mother -- Cheryl -- guardian of Meadow.  What's more, Paul's dad wants Cheryl to be the guardian of the $25 mil. This is exactly what Paul wanted under the will.

Now Meadow lives with her mom, Rebecca Soteros. If Paul gets his last wish, grandma will become Meadow's guardian. It's unclear if Rebecca approves, but it's definitely strange that Paul wanted his mom to be guardian since Meadow lives with Rebecca.

A court hearing is scheduled for later this month.

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239 COMMENTS

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31.

marmar    

25 million that a lot of money why they fighting.

175 days ago
32.

Unbroken Chain    

He is an a&&hole for writing it up like that. Who is he to Determine custody. I am a divorced man with kids and I would never take them from their mom. Shame on him. Maybe he wasn't such a good guy after all. He had a child with that woman and let her have the kid when he was alive. He can't wrench that child away using his money. Disgusting

175 days ago
33.

Truth is    

No "family" when it comes to wills. Prepare to hear this same story for PSH later on....

175 days ago
34.

RaineeDrops    

He should have put it into a trust for his daughter and assigned a trustee.

175 days ago
35.

RaineeDrops    

If the Mom has primary custody, no one can write up a will requesting who they want in place of a guardian for their child.

The guardianship papers are drawn up in the event both parents die, only one has here.

He seriously should have had a trust created for his assets if he was going to give them to his daughter and then assigned a trustee to honor the terms of the trust for his daughter.

You cannot state who will be guardian when the primary caregiver is still alive.

175 days ago
36.

Truth    

BASICALLY BRO DIDNT WANT HIS GOLD DIGGING EX-WIFE TAKING THE PAPER. HE TRUSTS HIS PARENTS MORE... HOW HARD IS THAT TO FIGURE OUT??? TMZ ARE GENIUSES. #TRUTH!!

175 days ago
37.

Chris    

Poor TMZ. Because no drugs or alcohol played a part in this tragedy, the roomful of idiots there must write a story with words like FIGHT in the headline. Death is entertainment. Next up, PSH seen buying milk for drug death binge!

175 days ago
38.

RaineeDrops    

Isn't Harvey a lawyer?

175 days ago
39.

boo boo    

That's weird. I've never heard of a living parent being stripped of guardianship because the deceased parent desires that in his will. If the mom is guardian while dad's alive, why should she not be guardian when dad's dead? Really weird.

175 days ago
40.

Truth    

MAN, CHECK OUT EX-REBECCA SOTEROS... CHIC LOOKS LIKE A DRUG ADDICT. MUG SHOT READY. I CAN SEE WHY WALKER MADE HIS MOM GUARDIAN IN CASE THAT CHIC OFF'S HERSELF. #TRUTH!!

175 days ago
41.

Astrogenotype    

I hope meadow's mom is a gd mom and this is settled quickly and amicably.

175 days ago
42.

boo boo    

Sounds like gma & gpa want to be able to spend his $ as they want and make mom sue for child support. Did PW make his own will on LegalZoom or something 'cause its def weird.

175 days ago
43.

dawn    

he didn't leave anything to his underage girlfriend what a surprise/

175 days ago
44.

Tazz    

Sorry Paul, doesn't work that way and you should have had a better lawyer. If one parent dies, the child automatically goes to the other parent unless there are obvious reasons why it shouldn't happen. And it is clear there are no obvious reasons, hence the child is already with the mother. You cannot dictate from the grave that the other parent is automatically stripped of their rights for no reason.

175 days ago
45.

Susan62509    

Paul was NOT marriesd to Meadow's mother.

Because Paul’s daughter is a mino the following law is enacted:
Uniform Transfers to Minors Act (UTMA) is a legal arrangement in which property(inheritance) is given by a donor (Paul) to an adult, the custodian, who is entrusted with managing and expending the property for the beneficiary, who must be a minor, until the minor reaches age. When the minor reaches age 18, the custodian transfers all remaining property to the minor.

Meadow wanted to live with her father and moved in with him in 2011. The judge will determine if Meadow wants to live with her grandmother or her mother and will rule who is best for Meadow until she turns 18. Perhaps Meadow has asked her grandfather (executor) to request guardianship with her grandmother. We don't know.

As far as Meadow's inheritance money, the executor will pay all creditor's first and the remaining money will be put into a trust or bank account. An executor is mandated to keep a complete accounting of all monies received and/or paid out in which the court can review upon it's request. Once the Estate is closed, the executor is relieved of his duty.

Whom ever Meadow lives with will be allocated a monthly allowance to financially support Meadow until she turns age 18. The judge will determine who will continue to handle Meadow's UTMA once the estate closes. My guess the judge will assign the grandmother or grandfather to be in charge of the UTMA.

175 days ago
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