Wills, Trusts & Estates Prof Blog

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

Tuesday, February 25, 2020

Kirk Douglas Leaves the Majority of his Fortune to Charity

KirkKirk Douglas, arguably the last member of Hollywood's Golden Age, passed away on February 5, 2020 at the age of 103. He is survived by his second wife Anne, who he married in 1954, and three of his sons - Michael, Joel and Peter. Kirk had suffered a stroke in 1996 and his health had declined, but he still occasionally appeared in movies and television productions.

In addition to being a three time Oscar nominee, he received a lifetime achievement Oscar in 1996, the Presidential Medal of Freedom in 1981, the Jefferson Award for public service in 1983 and was named to the French Legion of Honor in 1985. He was born in Amsterdam, New York to Jewish immigrant parents and was lucky enough to have an illustrious Hollywood career that spanned seven decades.

Kirk and Anne founded the Douglas Foundation 1964 and opted to bequeath the majority of his estate to the charity. The Foundation benefits the Children’s Hospital of Los Angeles, The Kirk and Anne Douglas Childhood Center, a St. Lawrence University scholarship for underprivileged students, Westwood’s Sinai Temple and Culver City’s Kirk Douglas Theater, a restored venue. Anne Douglas remains as the nonprofit's managing trustee.

Though at first glance it might seem harsh that Kirk did not leave anything to his beloved son Michael, who followed in his father's footsteps and became an actor. But the well-known Wall Street is worth over $300 million in his own right so he most likely was not expecting anything from his father.

See Nate Day, Kirk Douglas' $61M Fortune Given Mostly to Charity, None Went to Son Michael Douglas, Fox News, February 23, 2020; see also Jorge Fitz-Gibbon, Kirk Douglas Leaves Most of his $80 Million Fortune to Charity, Page Six, February 22, 2020; see also Will Twigger & Susan Knox, Kirk Douglas Leaves Entire £61m Fortune to Charity - and Son Michael Douglas Doesn't get a Penny, Mirror, February 23, 2020.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) and Jay Brinker (Cincinnati Estate Planning Attorney) for bringing these articles to my attention.


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