Last Will and Testament of Phillip Seymour Hoffman - Dr Phillip Hoffman

By: Dana Altman
Date: March 20, 2014

  • Phillip Seymour Hoffman’s last will and testament contained a somewhat ironic request. He made the will in 2004, well before his apparent heroin overdose in his Manhattan apartment. He signed the will form when he only had one child, his now 11-year-old son named Cooper. Costume designer Marianne “Mimi” O’Donnell is Cooper’s mother. Besides his son Cooper, he went on to have two daughters with O’Donnell. The three children live with their mother in an apartment just a few blocks from the one in which he died. His estate planning failed to include his daughters, since he didn’t update his will after their birth.

  • Ms. O’Donnell will inherit the bulk of his probate estate. He created a trust fund, which allows the trustee to distribute half of its assets to Cooper when he turns 25, and the rest at age 30. He also created a guardianship for his son, and left instructions regarding his preferences for his son’s residence. He expressed his desire that the guardian raise his son in Manhattan, San Francisco or Chicago, in order for Cooper to get exposure to the arts, architecture, and culture these cities offer. He further requested that his son visit these cities at least twice a year during the guardianship if he didn’t reside there.

  • Mr. Hoffman died at the age of 46, due to a return drug use after a 23-year period of sobriety. While he apparently thought living in Manhattan would be a better influence for his son than Hollywood, it’s ironic that he died there with a needle in his arm.

  • There are various lessons to be learned from Mr. Hoffman’s tragic death. One is that your last will should be reviewed periodically for needed updates, due to changed circumstances like the birth of a child, divorce, marriage, new home purchase, etc. However, Hoffman did set a good example by using a living trust to ensure some control over his assets after his death. This turned out to be a wise move, since an 11-year-old is too immature to properly handle an outright inheritance through a will.

  • Another is that drug use is deadly, even after a prolonged period of abstinence. Moreover, geographic boundaries don’t protect people from the dangers of drug use. The disease of addiction doesn’t discriminate based on residence, sex, wealth, or other factors. Even if you live in a glamorous city like Manhattan, have lots of money, and are adored by many fans, drug use can still lead to an ugly death.

  • Perhaps the most important lesson is how fragile and precious life is. Even sober people aren’t immune to unfortunate events. Therefore, we all need to be prepared for the unexpected. A child’s guardianship, like Phillip Seymour Hoffman created, can be established in a will. Even if you’re not wealthy, probate law provides this valuable tool for ensuring that your final wishes for your assets and care of loved ones are carried out. We don’t like to think about our mortality. However, it’s better to spend a few minutes thinking about your estate plan than leave legal loose ends for those you leave behind to untangle.

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    Tips for Preparing Last Will and Testament of Phillip Seymour Hoffman

    1. The content of your will isn’t a final version. No matter what changes you deal with throughout your life, be it marriage, divorce, loss of a family member, or health problems, you can always make adjustments to the last will and testament you drafted and approved. How you need to do that is based on the legislation of each state.
    2. Some states enforce an inheritance tax. This is something you need to take into consideration before preparing Last Will and Testament of Phillip Seymour Hoffman to avoid any legal fees and penalties from the IRS in the future. Exactly how much recipients are obliged to pay out in estate or inheritance tax is defined by the state you live in.
    3. Your expectations presented in the paperwork can be contested. While preparing Last Will and Testament of Phillip Seymour Hoffman, consider the following case: if the beneficiaries that you refer to in your legal will feel that you disinherited them or believe that you've been tricked into creating it, they might contest it with the court. Other commonly popular reasons behind contesting a will are an poorly carried out paperwork or the incapacitation of the testator.
    4. Check intestacy laws before drafting a will. Intestacy signifies dying with no a will. This is when the court takes over inheritance issues after your passing away. If the distribution of assets specified by your local laws meets your needs, then you can certainly put off or not create it at all. However, not to run any any risks of a family feud or significant arguments, it's very recommended to create a will. You can do it and get the required Last Will and Testament of Phillip Seymour Hoffman online using US Legal Forms, one of the most expanded libraries of professionally drafted and frequently refreshed state-specific legal documents.