Bay Area Estate And Tax Planning Law Firm

This estate will undoubtedly take some time to settle

On Behalf of | Nov 5, 2018 | Uncategorized |

Not every estate settlement features a yacht of gargantuan dimensions.

Of course, not every estate spotlights the assets held by a Microsoft Corporation co-founder.

Paul Allen, who passed away recently, had a lot of toys to play with. In addition to the aforementioned boat (perhaps “ship” is the better term; reportedly, Allen’s ocean vessel is reportedly more than 400 feet long), the multi-billionaire owned widely varied assets of eye-popping worth. Those include a globally preeminent art collection, multiple professional sports teams, numerous palatial homes, wide-ranging commercial properties and many other holdings. Much of his wealth is closely tied to California.

With Allen, though, life was clearly a matter that went far beyond toys or frivolity. Numerous news accounts chronicling his recent demise and personal empire point to the mogul’s deep involvement in the charitable realm. A Bloomberg piece published shortly after Allen’s death notes that his imprint on philanthropic concerns is both huge and widespread. That publication states that, “At least half his $26 billion fortune is probably earmarked for charitable purposes.”

It will unquestionably, who lived life large for 30-plus years take some time before the proverbial smoke clears on the Microsoft titan’s estate following his exit from the company that he and Bill Gates created.

Notably, Allen died without a spouse or children left behind to receive a portion of his extensive holdings. Experts expect that fact to have little bearing on how complex and protracted his estate’s settlement will likely take.

[I]t’s almost like the dissolution of a major corporation,” says one commentator.