Philip Seymour Hoffman Estate: Late Actor Made Girlfriend Beneficiary
The late acclaimed actor and director Philip Seymour Hoffman left a will that puts his former girlfriend as both the executor and beneficiary of his entire estate. Marianne “Mimi” O’Donnell, with whom Hoffman had a relationship for 14 years, is also the mother of his three children. They have an 11-year-old son named Cooper and two daughters named Tallulah and Willa who are ages 8 and 6 years, respectively. Hoffman and O’Donnell separated in the fall of 2013, just a few months before the actor’s death.
According to the will, which the Capote actor signed back in October of 2004, his estate is to be granted to O’Donnell. His total assets are said to be worth more than $30 million, although it is subject to multiple tax deductions since Hoffman and O’Donnell were never married.
Apart from his estate, Hoffman’s will also included certain stipulations concerning his son Cooper’s upbringing. Hoffman said that he wanted Cooper to be raised in a culturally diverse city like New York, Chicago, or San Francisco. He also singled out Manhattan for its abundance of art and architecture. In the event that these conditions could not be met, Hoffman expressed hope that Cooper would be able to visit these cities at least twice a year.
The 46-year-old actor passed away on February 2 in his West Village residence. His death was ruled a result of a heroin overdose.
As the executor of Hoffman’s will, O’Donnell has the option to renounce her inheritance. Renouncing her rights or passing away ahead of her son automatically puts Hoffman’s estate into a trust fund for Cooper, who was born on the same year the will was signed. If O’Donnell renounces her rights, Cooper would have access to half the trust on his 25th birthday and the other half when he turns 30. While the will did not overtly include his other two children, they will receive part of their father’s estate by virtue of their dependence on their mother.
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