Anthony Bourdain
Celebrity chef Anthony Bourdain was filming Parts Unknown, a TV series for CNN, when he died in June 2018. The American took his own life in a hotel room in France. Now it’s been revealed by The Hollywood Reporter, among other sources, that he left most of his $1.2m estate to his 11-year-old daughter, Ariane.
According to papers filed in a court in New York, the estate comprised $425,000 in cash and savings. All of this, plus personal property worth $250,000. Payments of royalties and residuals from Bourdain’s entertainment career accounted for a further $500,000.
Although he separated from his wife Ottavia Busia in 2016, the couple had not divorced. Bourdain’s will reportedly named his wife as executor. It instructed her to dispose of his cars, clothes, books, jewellery and furnishings “in accordance with what she believes to have been my wishes”, according to sources.
As the host of shows on The Travel Channel for years, Bourdain may have accumulated a lot of air miles. These are also to be disposed of by Busia. While Ariane is reported to be the main beneficiary, a report in The Independent revealed that her share of the estate would have gone to her nanny if she had died before her father.
What\’s the best way to leave an inheritance to my children?
A common method of leaving assets to your children in your will is to create a trust.
A trust is simply part of your will and is a legal entity controlled by one or more trustees. You name the trustees when you set up the trust – they are usually close family members. The trustees manage the assets controlled by the trust on behalf of the beneficiaries – in this case your children.
The children have a statutory right to receive their designated assets when they reach the age of 18, unless you’ve stated otherwise. Some people prefer to set the age threshold higher – the age of 25 seems to be fairly common.