Posted on 09/30/2005 3:29:10 PM PDT by tbird5
Peter Jennings left a fortune worth more than $50 million to his wife and two children, according to the ABC News anchor's will, the Daily News has learned.
Jennings, 67, left the bulk of his estate in trust for his two children, Elizabeth, 25, and Christopher, 23, from his marriage to writer Kati Marton, according to the will, filed Wednesday in Manhattan Surrogate's Court.
He left his Central Park West apartment to his widow, Kayce Freed, whom he wed in 1997, as well as a portion of his estate, as laid out in a prenuptial agreement the couple signed before their wedding.
Jennings, who died last month after battling lung cancer, reportedly earned as much as $10 million a year during part of his tenure at ABC. His will lists $50 million in personal property and $3.5 million in real property in New York.
In addition to his upper West Side apartment, Jennings owned a house in Bridgehampton, L.I., and property in his native Canada. Most of the rest of the estate is in stock, cash and retirement funds - though Jennings also owned two horses, Cabin Fever and Channel's Gate.
The urbane journalist, a high school dropout, also left instructions that his personal charity, the Peter Jennings Foundation, be funded so that its assets equal $1 million. The foundation was founded in 1998 by Jennings to donate money to organizations fighting homelessness, drug addiction, illiteracy and hunger.
Neither Jennings' lawyer, nor the executor of his will could be reached for comment.
Hey, that newsreader gig pays pretty good.
Interesting. He left as much as 1-1.75% of his vast estate to charity.
Did we really think he'd take it with him???
So lying does pay.
"Interesting. He left as much as 1-1.75% of his vast estate to charity"
But remember if his family is on the board of the foundation then they get paid first. Many movie stars do this to keep the money in the family and for themselves. A very small percentage goes to the needy.
Compassionate liberal, even in death. < / sarcasm>
So, according the the Dems we should make sure they pay it all in taxes since they didn't earn it themselves, correct?
That's why Mega Rich people often support death taxes. Their assets pass through, tax free, to a charitable trust that his managed by family members who can use it as a tax free slush fund. The hypocrisy of it all makes me sick.
-PJ
I read his estate is why he became an American citizen. He wanted his money to go to his family and not the Canadian government.
Liberal socialists always encourage their politics for other people to follow not to follow themselves.
or the US gummint so one can't know what he gave to charity.
Peter Jennings leaves estate of over $50 million
September 30, 2005 16:52:04
NEW YORK (Reuters) - ABC News anchor Peter Jennings, who died of lung cancer in August, left an estate valued at more than $50 million, most of which was willed to his fourth wife and to two children from a previous marriage.
Jennings, 67, signed the will on April 21, 2005, 16 days after announcing on his World news Tonight program he had been diagnosed with inoperable lung cancer. He died on August 7 in New York.
His will, filed for probate this week in New York's Surrogate Court, lists $50 million in personal property and $3.5 million in property in New York.
Besides leaving his widow, producer Kayce Freed, 50 percent of the "net marital estate," she also got their Central Park West apartment.
Jennings has appointed trustees to handle the distribution of funds for his two children, Elizabeth, 25, and Christopher, 23. Both children were from his third marriage to author Kati Marton, which ended in divorce.
He also left assets valued at $1 million to the Peter Jennings Foundation, a charity he founded in 1998 that gives money to fight homelessness, drug addiction, illiteracy and hunger.
Besides stock and real estate, Jennings' assets included ownership of a race horse, Channel's Gate and another horse, named Cabin Fever.
http://tinyurl.com/8f9ht
I'd be interested in both the federal income tax as well as the state taxes. I assume he was a resident of New York.
If it is still taxed pretty highly than he did not leave as much to charity as some slicksters do. As another poster has pointed out,children can assume nice,cushy positions in family charitable trusts. If his estate was subject to quite a bit of taxes,it could be that he acted pretty honorably for a liberal,that is regards his estate at least. I just don't know yet but I would like to more.For some reason he never bothered me as much as the other two "stars".
I'll say it, I'm glad he's gone one less puke to hear from; his anti- military,anti-American,anti-christian rantings were too much to bear!!!!!!
Wasn't that hearse pulling a U-Haul?
For a high school drop out.
I'm surprised he didn't leave MORE to his Foundation and LESS to his children......who are in their 20's....it'll be interesting to see what THEY do with that chunk of change. I'm wondering if they will become TRUST FUND liberals....
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.