Carley’s Corner – Audrey Hepburn’s Estate

Audrey Hepburn was a world-class British actress and humanitarian recognized for both her work in the film and fashion industries. Best known for her roles in films such as Breakfast at Tiffany’s and My Fair Lady, Hepburn was ranked as the third-greatest Female Screen Legend by the American Film Institute and was one of the few actresses to win an Emmy, Tony, Grammy, and Academy Award in her lifetime. In her later years, acting took a back seat for her to focus on her humanitarian work. She became a Goodwill Ambassador with UNICEF and brought awareness about children in need through more than fifty global charitable trips. Audrey passed away on January 20th, 1993, at her home in Switzerland at sixty-three. 

When Audrey died, she had a Will and an estate plan in place. Her Will included a clause which left all her Hollywood memorabilia to her two sons equally. She did not specify who was to get which items. Her two sons could not agree on how to distribute these items, and eventually ended up in litigation. Their feud over the memorabilia ended up lasting 24 years before they allowed a judge to decide how the contents were to be divided!  

The family fall out, and expensive twenty-four-year dispute could have been easily avoided. Audrey could have specifically named which items were to go to each son, or she could have also included a clause pertaining to any disputes such as; the property could be sold and the proceeds from the sale distributed to her sons, or that mediation is required immediately.  

Estates can be complicated, and when family dynamics come into play, they can get even more complex! If there is a chance that there could be future issues with specific items, stating exactly who is to receive which items is crucial, whether it be mentioned in the Will or attached as a memorandum.  

Are you currently working on your estate plans? Ensure that you have your Will and other important documents prepared and that you are naming the right person as your Executor. Want to learn more about the role of Executor and verify that you chose the right person to manage your estate? Check out our new online course called Executor Ready today!   

This blog is not intended to be legal advice and should not be relied on as such. If you require legal advice, please contact a legal professional concerning your particular circumstances.