Action film star Paul Walker, famous for his role in “The Fast and The Furious,” died tragically on Nov. 30 in a high-speed car crash near Los Angeles. In court documents filed earlier this month, it was revealed that Walker left his $25 million estates to his 15-year-old daughter, Meadow. He also named his mother, Cheryl Walker, guardian of the teen.
Walker died of traumatic and thermal injuries after a Porsche he was riding in crashed and burst into flames. His friend, Roger Rodas, was driving the car at the time. He also died in the accident. The vehicle was estimated to have been traveling at 100 mph or more, and investigators’ reports said no mechanical problems had been found.
Despite the wishes outlined in Walker’s will, there may be problems in executing his final requests, Texas probate lawyer Keith Morris notes.
In California and other states, when one parent dies, guardianship of a minor typically passes to the surviving parent unless he or she is deemed unfit or relinquishes custody voluntarily. While Meadow was living with her father at the time of his death, the teen’s mother, Rebecca Soteros, has had custody since then.
For Walker’s guardianship wishes to be fulfilled, and his mother to be granted custody of Meadow, Soteros would likely have to voluntarily give up custody or be proved unfit. While Walker’s wishes will be considered in the process, a California probate judge would have the final decision in guardianship.
In the will, Cheryl Walker was also named to be the trustee of her son’s estate on behalf of his daughter. The guardian of an estate is a person named to responsibly and ethically manage the assets it contains, usually until the beneficiary, in this case, Meadow, reaches the age of 18.
The actor named his father, Paul Walker III, as executor of his estate. In documents filed by the elder Walker, the estate is reported to consist of a home valued at $10 million and personal property valued at an estimated $8 million, as well as $8 million the estate is expected to earn in the future.
The will was dated 2001, which was the year the first film in the “Fast and Furious” series was released. The seventh movie in the series is set to be released in April of next year.
The first hearing on Walker’s estate is set for Feb. 20.
Get started on your estate plan today with the experienced help of a Texas probate lawyer. Contact Keith Morris today to schedule a consultation.