Texas Judge Orders Billionaire Harold Simmons' Last Will and Testament Released
Last week, we wrote about the matter of recently-deceased Harold Simmons' estate, and the estate attorneys' attempts to seal the case. As it turns out, Probate Judge Michael Miller decided there was no compelling reason to keep the will from being a matter of public record. He did, however, allow estate attorneys to redact the names of Simmons' children and grandchildren contained in the will and the addresses of Simmons' various real estate holdings.
Simmons left everything to his wife in his will
Although Simmons was well-known as a philanthropist and political contributor, Simmons left his entire estate to his wife.
According to Simmons' will, he left nothing to his children, because he had made other provisions during his lifetime to give them assets more valuable than those distributed in the will. He left out his two daughters who had sued him in the past, indicating they were otherwise provided for pursuant to a legal settlement years ago.
Simmons provided for his children during his lifetime
By using trusts or other methods to transfer property during his lifetime, Simmons kept a large portion of the contents of his estate from being known to the general public. No doubt he also saved a significant amount of taxes for himself, his estate and his beneficiaries by careful estate planning.
To learn more about protecting the privacy of your estate or avoiding probate, contact an experienced Bryan, Texas estate planning attorney at the Peterson Law Group. Call our office at 979-703-7014 today to request a consultation, or visit us online for more information about our comprehensive estate planning services.