LegalZoom, By Phil Corso
Last Updated March 21st, 2023
Often you hear that you should review your will or trust to make sure it keeps up with changes in your life and still meets your needs…
If you don’t, a will you signed may determine what happens to your property and other important decisions. Also, state law may step in to fill the void. This may or may not be what you would have wanted.
The tragic death of Philip Seymour Hoffman, whose will became public due to the probate proceeding, brought some of these issues into the public eye.
The award-winning actor died suddenly at age 46 of a suspected drug overdose and left a significant chunk of his $35 million-plus estate to long-term companion Marianne O’Donnell. After his death, the ensuing weeks helped serve as a textbook example of why it is so important to review your will or trust and make sure it still meets your needs after major life changes.
When he made the will in October 2004, Hoffman had only one child with his longtime companion, Marianne O’Donnell… They since had two daughters, neither of whom were mentioned in his will.
Hoffman’s will was not updated in time to include all of his children, which means the court will ultimately decide how the estate will be divided among his companion and children. Because his will did not keep pace with the changes in his life, Hoffman’s family must now weave its way through the New York probate system to figure out what happens to his property and whether or not state law will step in to fill the void.
