Lauren Bacall died on August 12, 2014, at the age of 89. She began her career as a fashion model and made her acting debut on Broadway. She starred in films directed by Humprey Bogart, whom she later married. When auditioning for her first film, To Have and Have Not (1944), Lauren Bacall pressed her chin against her chest and tilted her eyes upward toward the camera to minimize her quivering from nerves. Known as “the look,” Lauren Bacall became an iconic figure and often played the independent and sultry femme fatale character.
Lauren Bacall left a large estate, approximately $26 million. She is survived by three children and six grandchildren. She named all three children as executors of her estate. The children and grandchildren received the bulk of the estate. Specifically, she left $10,000 to her son, to care for her dog. (See http://pagesix.com/2014/08/22/lauren-bacall-leaves-fortune-to-children-10k-for-beloved-dog/.) She also left a large sum to two employees. Lauren Bacall left gifts of $250,000 to each of her grandsons. She said that she wanted the money to be used for college. The boys can have the rest of the money when they reach the age of 30. Ms. Bacall’s estate includes her co-op apartment in New York, royalties, tangible personal property, cash and the remainder of a trust left to her by Humprey Bogart.
Ms. Bacall’s iconic status makes her estate interesting, but her choice to include certain will provisions is also compelling. She exercised many options that everyday people and families may also wish to exercise.
Many people wish to leave money for specific purposes; college education, the care of another, or to benefit a charitable organization. People often choose to delay access to funds until the beneficiary reaches a certain age. Many of us care deeply for our pets, and like Lauren Bacall, would benefit knowing that we can leave a portion of our estate specifically for the care of our precious animal family members. Altman & Associates can help you plan for the future and carry out your wishes, whatever they may be. Call us today to set up a consultation!
– Aubrey Mirkin