Paul Allen’s last will and testament, made public Thursday, does not offer specifics on the late billionaire's assets, but rather points to a trust established decades ago.
Paul Allen’s last will and testament does not offer specifics on the late billionaire’s assets, but rather points to a trust established decades ago.
Allen’s six-page will was filed with King County on Oct. 24, the same day his sister, Jody Allen, announced she was designated the executor and trustee of his estate.
Allen died Oct. 15 at age 65 from complications of non-Hodgkin lymphoma. The Microsoft co-founder operated a lengthy list of business and philanthropic initiatives that helped shape the Puget Sound region, including owning the Seattle Seahawks, donating significantly to the arts community and scientific research, and running the multifaceted Vulcan Inc., which reshaped the real-estate landscape of South Lake Union.
The will puts his assets into a 25-year-old living trust, where their disposition is not expected to be made public. Forbes has estimated his wealth at $20 billion.
The will also sets out a list of successors if Jody Allen declines, or is unable, to serve as executor. She may appoint someone, or it would next fall to Nancy Peretsman, the managing director of investment firm Allen & Co., which is not connected to Allen. After Peretsman, the duty would fall to lawyers Allen Israel and Nicholas Saggese.
Jody Allen said last month that “I will do all that I can to ensure that Paul’s vision is realized, not just for years, but for generations.”
Several tributes for Allen have been held in the past month, including an effort last weekend that lit much of the Seattle skyline blue.
Allen signed the will on July 18, with two Vulcan employees as witnesses.
Most Read Business Stories
- KOMO TV still feeling the effects of a weekend attack on corporate parent's computers
- Amazon's self-driving cars are coming to downtown Seattle. Safety advocates are not pleased
- ‘People are hoarding’: Food shortages are the next supply chain crunch
- 2 rule-breaking retirees go on a road trip, leaving COVID cases in their wake
- Washington state bucks national hiring slump, but falls short of expectations