It’s hard to believe it’s been eight months since Matthew Perry’s untimely death on October 28, 2023. The 54-year-old actor, best known for playing Chandler Bing on ‘Friends,’ was found unresponsive in his Los Angeles home jacuzzi. Surprisingly, documents released on July 2, 2024, revealed he had just $1.5 million in his bank account at the time of his death—a startling figure considering it’s Matthew Perry’s fortune.
The Real Deal: Matthew Perry’s Trust
So, why did such a big star have such a small amount in his bank? The answer lies in estate planning. Perry didn’t keep his wealth in a simple bank account. Instead, he had wisely placed most of his assets into a trust.
Estate planning expert Jonathan Forster explained, “The reason we use trusts as opposed to wills is that trusts avoid probate, which is public. Probate courts oversee the transfer of assets, making it a lengthy and public process.”
Forster added, “When we do estate planning with a will and trust, the will leaves assets to the trust. During your lifetime, you fund the trust, and the will acts as a catch-all to transfer any remaining assets into the trust.”
Head of a Substantial Fortune
The court documents also outlined detailed instructions from Perry. He specified, “All my personal and household effects, including jewelry, furniture, art, and automobiles, shall pass as part of my residuary estate.”
Despite the modest bank account figure, Matthew Perry’s fortune was far from tiny. Two decades after ‘Friends’ ended, the cast reunited for a special, and Perry received $5 million just for that. Throughout his career, thanks to ‘Friends’ alone, he pocketed a whopping $136 million.
Perry’s estate plan, written in 2009, named his parents John Perry and Suzanne Morrison, his half-sister Caitlin Morrison, and his ex-girlfriend Rachel Dunn, as beneficiaries to his $120 million estate. By placing his assets in a trust, he ensured his wealth would be distributed discreetly and efficiently, sparing his loved ones from public scrutiny.
This article first appeared on telestar.fr – Author: Lola G.
