When many people think about Hugh Hefner, they don’t think about his business or estate planning sense. He took a unique business with $8000 in 1953 and grew it into a globally recognized brand and enterprise.
Records from his divorce indicate that his net worth is about approximately $43 million in addition to his real estate interest and the value of his Playboy enterprise’s stock. The majority of what Hugh Hefner had was protected through a prenuptial agreement with his third wife.
The prenuptial agreement reported allowed his third wife, Crystal Harris, to receive $5 million in addition to a house which cost approximately $5 million and was ultimately transferred to a trust. The careful planning on Hefner’s part makes it very unlikely that an inheritance fight would be forthcoming.
Approximately half of his wealth was intended to go to his four children with the other half earmarked for charity. There is a good chance that he used some type of a trust in order to provide an additional layer of protection. Even if you do not have an estate the size of Hugh Hefner, you can benefit from scheduling a consultation with an estate planning attorney who has extensive experience in the field.