Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, August 18, 2010

George Steinbrenner's Will

George steinbrennerGeorge Steinbrenner’s will, executed on July 5, 2005, was filed in a Tampa probate court. Here are some specifics about his will:

  • An undisclosed portion of his estimated $1.1 billion estate will go into a trust for Joan, his widow
  • It assigns Robert Banker, Steinbrenner’s lawyer, to decide whether Joan’s trust should pay estate tax this year or the year in which Joan dies
  • The bulk of Steinbrenner’s assets, including a controlling interest in the Yankees, goes into a trust. The trustees can only sell this interest upon a majority vote of the trustees.

See Dan Mangan, The Boss’ Will Power: Nifty Move Gives Trust Option Year on Taxes, N.Y. Post, July 28, 2010.

Special thanks to Peter Parlapiano (2011 MBA/M.S. PFP candidate, Texas Tech) for bringing this to my attention.


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