Last wishes, plans for the creation of a car museum
Jay Leno is confronted with the inevitable as he makes arrangements for the end of his life and determines how his fortune should be divided when he dies.
Court documents obtained by RadarOnline.com reveal the 74-year-old and his wife, Mavisplan to leave a seven-figure lump of dough to family and also open a museum honoring Jay’s passion for cars.
The former late-night host updated his will in a Los Angeles court after he passed away appointed as curator for Mavis, 77, who struggles with severe dementia.
His final file detailed provisions for the care of his ailing wife and said the couple planned to live in their home “as long as reasonably practicable”, planning to use their money for “domestic worker assistance or healthcare providers if necessary.”
If Jay were to die first, Mavis would need this court permission to make changes to their shared trust. If they both pass, their remaining assets will go to Jay’s charity, the JDM Foundation.
The organization will also be tasked with setting up a museum where the car and motorcycle collection of the car enthusiast can be displayed. Its impressive fleet, currently housed at the Burbank airport, is valued at $52 million and consists of more than 181 cars and 160 motorcycles, according to the luxury car site. DuPont Registry.
A reporter for the outlet wrote, “As the vintage and classic car market continues its booming trajectory, one can confidently predict that Leno’s collection will steadily rise in value, cementing his status as comedian extraordinaire and guardian of one of the most enviable automobiles is strengthened.” collections that can be found all over the world.”
The childless couple, who married in 1980, also updated the terms of their trust to increase the amount they leave to surviving relatives.
Jay’s cousin, Richard Leno, and Mavis’ brother, Rikki Huron Nicholson, will be the beneficiaries of $7 million – an increase of $3 million “to ensure that the amount set aside will be sufficient to meet the needs of these individuals to meet the needs of Mavis’ brother,” the court documents said.
The changes were approved by a court-appointed official, who wrote: “No one lives forever, and the actions taken by Mr. Leno are reasonable and necessary for his and Mavis’ protection.
“Mavis has no objection to the petition and in my opinion agrees with it. Mr. Leno is her protector and she trusts him. This estate planning is in her best interests and protects her interests.”
Leno’s net worth is reportedly estimated at $450 million.
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