8. claims an interest in any property alleged by executor to belong to my estate (whether or not such claim is successful).
The following provisions shall be applicable to any Executor or Co-Executor under this will (hereafter "fiduciary"): A. As expected, the document, made public Thursday, divvies up most of Sinatra's considerable estate between wife No. The two devised a secret code--using words that stood for letters, which was an old mentalists’ trick--so Bess could be certain she was talking directly to Harry. At the time of such delivery, my Executor may also designate one or more successor custodians to act if such custodian becomes unable, unwilling or ceases to so act, and my Executor may specify whether or not any such custodian or successor custodian shall be required to post bond. So what exactly did those who had it all leave to the ones they left behind?
Here's the lowdown on the will: Barbara, his wife of 22 years, gets $3.5 million in assets, along with mansions in Beverly Hills and Malibu and a ranch near Palm Springs. The general rule of law whereby actions, decisions, or transactions are held to be void or voidable if a fiduciary is directly or indirectly interested therein in a non-fiduciary capacity shall not be applicable to transactions between my estate and any business entity in which the individual fiduciary is involved. 4. objects in any manner to any action taken or proposed to be taken in good faith by my Executor, whether my Executor iS acting under court order, notice of proposed action or otherwise, whether such objection is successful or not. My Executor shall first pay and discharge in full from our community assets, including my Wife’s share thereof to the full extent her share is liable for such debts and to the full extent of such community property, any and all debts chargeable to the community estate of myself and my Wife, other than payments in satisfaction of any promissory notes secured by mortgages and/or trust deeds which are a lien on the Rancho Mirage residential real property owned by us. The document contained few surprises, with Sinatra leaving most of his assets to his wife and children and demanding that anyone who contests his will be disinherited. B. I give all of my jewelry, art objects, clothing, household furniture and furnishings, personal automobiles (except the 1988 Rolls Royce and the 1990 Mercedes which are the separate property of my Wife), train collections, music and recording collections, memorabilia and other tangible articles of a personal nature, and my interest in any such property not otherwise specifically disposed of by this Will or in any other manner, together with any insurance on such property existing at the time of my death, in the following manner; 1. My Executor shall next pay and discharge in full from my share of our community property the full amount of any promissory notes secured by mortgages and/or trust deeds which are a lien on the Rancho Mirage residential real property owned by us, and regardless of whether said real property is owned by us as joint tenants with the right of survivorship, as community property, or as my sole and separate property. E. To my Wife’s SOn, ROBERT OLIVER MARX, if he survives me, the sum of One Hundred Thousand Dollars ($100,000). She also receives rights to Sinatra's Trilogy recordings, most of his material possessions and control over his name and likeness.
Robert Marx, Barbara's son from her marriage to Zeppo Marx, gets $100,000. Sinatra's pals Elvina Joubert and Dorothy Uhlemann get $150,000 and $50,000, respectively. LAST WILL AND TESTAMENT. B. of said property shall be divided amongst my children. I recognize that the dual role of my fiduciary may result in situations involving conflicts of interest or selfdealing, and it is my express intent that my fiduciary shall not be liable as aforesaid, except in the event of his own bad faith or gross negligence. My Executor shall then honor such written contractual commitments, if any, which I may have entered into during my lifetime for delivery of such items of personal property at my death; 3. Thereafter each of my Wife, if she survives me and we are married and living together at the time of my death, and each of my children who survive me may designate to my Executor any of the aforementioned items of property which that beneficiary ~& desirous of receiving.
If any devisee, legatee or beneficiary under this Will, or any legal heir of mine or person claiming under any of them directly or indirectly engages in any of the following conduct, then in that event I specifically disinherit each such person, and all such legacies, bequests, devises and interests given under this Will or any trust created by me at any time to that person shall be forfeited as though he or she had predeceased me without issue, and shall augment proportionately the shares of my estate going under this Will to, or in trust for, such of my deviSeeS, legateeS and beneficiaries who have not participated in such acts or proceedings: 1. contests this Will or, in any manner, attacks or seeks to impair or invalidate any of its provisions.
For more information about Frank Sinatra, please see his biography in Wikipedia.
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