Paul Walker’s $25M Estate to Go to 15-Year-Old Daughter
SANTA BARBARA, Calif. (AP) — Paul Walker’s teenage daughter is the sole beneficiary of the actor’s estate, which is valued at an estimated $25 million, court records show.
The star’s final will and testament was filed Jan. 28 in Santa Barbara and calls for his father to serve as executor of the estate and for his mother to serve as guardian of the actor’s 15-year-old daughter.
The will was prepared and signed in 2001, the same year Walker starred in the first “Fast & Furious” film that launched the successful film franchise and will continue generating millions for the actor’s estate.
Walker, 40, died Nov. 30 in a fiery car crash in Los Angeles County. He was a passenger in a specialty Porsche driven by friend and financial adviser Roger Rodas that burst into flames after colliding with a light pole and tree.
A coroner’s report said investigators found no mechanical problems with the Porsche, which may have been going 100 mph or more before it crashed.
Much of the actor’s wealth came from unspecified personal property, which is currently worth $8 million, and a home worth an estimated $10 million, court filings show.
The records show Walker’s estate is expected to earn another $8 million, some of which is likely related to the seventh “Fast & Furious” film scheduled to be released in April 2015.
Shooting of the film was halfway complete when Walker was killed. Universal Pictures has said Walker will remain in the film but hasn’t laid out how it will handle footage that had already been shot. The actor appeared in all but one installment of the popular street racing films.
An initial estate hearing has been scheduled for Feb. 20 in Santa Barbara Superior Court.
The filings call for the actor’s father, Paul William Walker III, to have authority to sell or invest estate property as needed. Walker’s mother, Cheryl Ann Walker, is named as the guardian of the actor’s daughter, Meadow, and also was appointed to oversee her portion of the estate until she reaches adulthood.
Details about the will were first reported Tuesday by celebrity website TMZ.com.