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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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240 COMMENTS

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46.

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.

160 days ago
47.

boo boo    

Daughter: Mom, can I go to Band Camp? Mom: Ask your grandma if she can help out because I can't afford the whole thing. Grandma: No, I prefer you spend the summer at race car driving school, but don't worry I'll pay for it.

160 days ago
48.

Jody    

Oh, that girlfriend of his is going to have a fit.

160 days ago
49.

PokeFangirl    

Not surprised Paul never was the brightest tool in the shed. That being said to all those people who are attacking the mom because you love Paul so much let's not forget he started dating his ex-girlfriend when she 15 year old, turned 16 that same year but not the point, and in the 10th grade and he at the time was 33? Seriously kind of gross/creepy as a person on top of being a bit of a dumb blonde.

160 days ago
50.

rlemons    

Well his daughter his life there has to be a reason why he wanted this. Hopefully no one fights this and just moves on. Wishful thinking I know. Still so sad he's gone. Seemed like such an amazing person. RIP Paul

160 days ago
51.

Chris    

??? You guys actually read comments? Damn

160 days ago
52.

MoeShu    

It's obvious...Rebecca is obviously a money hungry skank, and that's why he's not with her anymore.

160 days ago
53.

Adorably Nuts    

Leave it to these ****roaches to exploit kids even more than they do -

I have already proven they manipulated the death certificates ...

what else will we dig up on these s***bags?

Kids should always be protected...not dragged through this kind of crap.

http://www.adorablynuts34.blogspot.com

160 days ago
54.

Mama Wills    

This is so sad!! Meadow has lost her father-her primary caregiver at the time, and people want to try to make him out like a monster. He obviously had reasons to set it up the way he did. He wasn't a man that would overlook any details-look at his ROWW Foundation!! The only "facts" we are hearing about is from the media....and we all know how that gets turned around in 100 different ways!! Can't we all show support and compassion for this family that has lost a man with the biggest heart-their father, brother, and son!

160 days ago
55.

Mimi    

Paul's mother can be in charge of the estate he's leaving to his daughter … that's permissible and done sometimes. But the girl's mother is still her parent. She's not an orphan. She doesn't need a guardian.

160 days ago
56.

BigD    

TMZ should investigate this further. The request is probably for her to be appointed as Guardian of his daughter's estate, not her person. In any event, the judge can separate the two. No judge would award guardianship of the person to the Grandmother under these cir***stances. Poor story

160 days ago
57.

porkchop    

This is generally done when so much money is involved but the parents aren't together. If something happens to the mother, Paul's wishes are already known.

160 days ago
58.

Sonny    

What's not to understand guys? Paul wanted his mother to run his estate for his daughter. That what this means. For heavens sake, lawyers work at TMZ.

160 days ago
59.

elm    

He must have wrote that will while out joyriding at 100 mph......

Interesting also that his teen age girfriend gets nothing.

160 days ago
60.

misscamm1956    

I thought his estate would be worth more what about his business always evolving that he shared with Roger Rodas just a bit puzzled because I heard his net worth was more but maybe I mistaken.

160 days ago
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