Who Will Inherit Bob Saget’s Fortune?

Who Will Inherit Bob Saget’s Fortune? 🤔

On January 9, 2022, Bob Saget unexpectedly passed away in his hotel room at the Ritz-Carlton in Orlando, Florida at the age of 65.  Most of the world knew him as “Danny Tanner” from the show Full House. At the time of his sudden passing, Saget was on a comedy tour. His last performance on the tour was in Ponte Vedra Beach, Florida just the day before he passed away.

According to celebritynetworth.com, Bob Saget’s net worth was approximately 50 million dollars at the time of his death. That is not a small amount, and hopefully, he planned for who would be the beneficiary of his estate. At this time, the beneficiaries of Bob Saget’s 50 million dollar legacy have not been released. Saget was married to Sheri Kramer in 1982 and had 3 daughters, Aubrey, Lara Melanie, and Jennifer Belle. In 2018, he married Kelly Rizzo.

Whether or not Bob Saget’s estate has to go through probate depends on what type of estate planning, if any, he prepared during his life. Further, the contents of his estate planning are going to decide how his estate is distributed.

Despite their sizable estates, many celebrities have died without estate planning which has left their assets in limbo. To name just a few, Jimi Hendrix, Prince, Michael Jackson, and Amy Winehouse all died without a will. This means that these celebrities died intestate. These celebrities had significant assets to their name and their families may have had to go through a long and arduous process to distribute their property. For example, when Jimi Hendrix died, according to USA Today, his family fought over his estate for over 30 years.

What happens when there’s no will in Florida?

When no will has been left behind by the deceased, the process becomes somewhat more complicated. This is when the probate process is needed meaning someone will need to petition in probate court to administer the estate of the person who has passed away.

Florida Statute 732.102 dictates who will inherit the property when the decedent (person that has passed away) has left no will. If a person dies intestate, or without a will, there is an order as to who will inherit the estate. The first line of inheritance is to the spouse, however, if there are children from a prior relationship, they would also inherit a portion of the estate. If there is no spouse, the property in the estate is inherited by any descendants of the decedent. In the event that there are no descendants of the decedent, the property would then pass to the parents or grandparents of the decedent. Depending on the circumstances, siblings, aunts, uncles, and cousins may also inherit part of the estate.

While you may not be worth hundreds of millions, it is nevertheless important to plan for the future. One way to avoid a complicated process for your loved ones is to have a Last Will and Testament. This document will allow for you to have control over what happens to your estate after you pass away and who can inherit it. If you do not have a will, your estate will be bound to your state’s intestacy laws.

As mentioned above, if Saget died without estate planning, it is likely that his 3 daughters and wife inherit his estate but this depends on multiple factors and is state specific. Whether your loved ones pass away with or without estate planning, be sure to speak to a Florida probate attorney.

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When it comes to administering an estate in Florida, there are several complex rules involved. There are many factors the beneficiaries and Personal Representatives of an estate must consider so that the estate’s assets are properly distributed. If you have recently lost a loved one and have any questions concerning what your next steps should be, your best option is to contact an experienced Florida probate attorney.

The Florida Probate & Family Law Firm has a team of experienced Probate and Family attorneys located in Coral Gables, Florida. As attorneys who have extensive knowledge in Probate, we understand it can be a time-consuming and complicated process. If you currently have questions regarding a probate issue, contact us to set up an appointment to evaluate your options. We serve the entire state of Florida so call us at 305-677-5119 or email us at info@flpfl.com.

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