The Legacy of Film Legend Val Kilmer
Actor Val Kilmer’s passing in April 2025 highlights estate planning issues that can affect almost anyone. Although Kilmer was a celebrity, these issues—including managing real estate in more than one state, deciding what happens with digital assets, and using charitable gifts to leave a legacy and help reduce estate taxes—are concerns that can be especially important for individuals who have an out-of-state summer home or cottage, a creative or online-persona based career, or a favorite charity they want to support after their death.
Kilmer, best known for playing Iceman in Top Gun, Doc Holliday in Tombstone, Jim Morrison in The Doors, and Batman in Batman Forever, died with an estimated net worth of $10 to $25 million.1 At the time of his death, he was a divorced father of two adult children. He also owned a California home, a New Mexico ranch, and digital assets that included a synthetic recreation of his voice.
Public Life, Private Death
While his two children are expected to inherit most of his estate, his estate plan details have not been made public, as is typical of celebrities and other high-profile individuals who want to protect their privacy and that of their loved ones. It is usually only when beneficiary or creditor conflicts emerge and subsequent court filings are made that estate plan details leak to the public.
planning, which likely helped reduce conflict and keep his affairs private. For someone who spent his later years retreating from Hollywood to his New Mexico ranch, privacy was likely a priority.
Estate Taxes
Kilmer’s net worth may have exceeded the 2025 federal estate tax exemption of $13.99 million per individual, meaning that his estate could be subject to federal estate tax.
California (where Kilmer died) has no state-level estate tax, and neither does New Mexico (where he owned a ranch), so state estate taxes should not be a factor. However, the federal estate tax could take up to 40 percent of the value of Kilmer’s estate above the federal exemption limit.
Unlike married couples, unmarried individuals cannot take advantage of the unlimited marital deduction, which allows spouses to transfer accounts and property to each other estate tax-free.
Estate tax reduction strategies available to both married and unmarried individuals include making lifetime gifts, applying valuation discounts for certain assets, and using special types of trusts, such as a grantor retained annuity trust. Charitable giving may also be an effective technique for lowering estate taxes while supporting causes that matter to you.
Charitable Planning
There is a good chance that philanthropy figures largely in Kilmer’s estate plan. He was involved in numerous causes throughout his life, supporting organizations focused on environmental issues, animal rescue, human rights, poverty, families of police officers who were killed on 9/11, and more.2 If he used charitable tools such as charitable remainder trusts, charitable lead trusts, or donor-advised funds as part of his estate plan, he may have reduced taxes while supporting causes he cared about. You do not have to be ultrawealthy to use these strategies. Charitable giving at any income level can be a meaningful way to create a legacy and express your values in a tax-advantageous way.
Real Estate in Multiple States
Kilmer owned real estate in both California and New Mexico, which may have triggered an ancillary probate proceeding—a second probate process that takes place in the state where you own real property that is outside the state of your primary residence.
An ancillary probate can mean more paperwork, delays, and legal fees. State laws differ, and if you pass away owning real estate in more than one state, your family could be left dealing with multiple court systems that often require different approaches to administration.
Fortunately, there are ways to avoid ancillary probate. For example, you can transfer out of state property into a revocable living trust to avoid probate while keeping your affairs private. Other tools—such as transfer-on-death deeds, life estate deeds, or titling property jointly with someone else can also minimize or eliminate the need for probate as long as these methods are legally recognized in the state where the property is located.
If Kilmer had a revocable living trust, it might have streamlined the administration of his real estate, avoided probate, and maintained privacy—key considerations for anyone with real estate in multiple states.
Spousal Support
Kilmer married actress Joanne Whalley, whom he met during filming of the cult classic film Willow, in 1988. Their divorce was finalized in 1996, not long after the birth of their son.
A person’s past divorce can create headaches if things were not properly cleaned up at the time of their death. For example, if the person never changed the beneficiary on their life insurance or retirement accounts, an ex-spouse might still be entitled to that money, even if that was not the deceased person’s intention. Also, while there is no public record of Kilmer owing ongoing support to his ex-spouse at his death, unpaid spousal or child support can become debts of the estate, reducing the inheritance that heirs and beneficiaries receive. Property that was supposed to be transferred to the deceased person in the divorce may still be in the ex-spouse’s name (either individually or jointly with the deceased person), leading to confusion and possible legal disputes. To avoid these complications, it is a good idea to review divorce paperwork and ensure that all financial responsibilities are settled and incorporated into the estate plan, and all accounts and property are properly titled or have beneficiary designations that align with their new life circumstances.
Digital Assets
Whether you are a blockbuster movie star, an influencer earning income on YouTube or Substack, or someone who simply keeps their photos in the cloud or has a Venmo account, digital assets are part of everyday life, presenting new questions—and challenges—for estate planning.
In Kilmer’s last appearance in a major film, Top Gun: Maverick, a company called Sonatic helped Kilmer digitally recreate his voice (lost after throat cancer treatment) using AI technology and past recordings.3 This voice recreation has financial value, so what happens to the legal rights to it now that Kilmer has passed away? That answer will largely depend on state law. California law extends a person’s rights to their name, image, and voice for 70 years after their death.4 This means that Kilmer’s children, who presumably control his estate, have the exclusive right to approve any future use of his likeness, such as a film cameo, commercial appearance, or holographic performance.5
Kilmer’s digital estate may also include intellectual property such as unpublished writings, scripts, digital art, or other assets stored on devices or in the cloud. Any intellectual property stored digitally, either locally or remotely, including notes, photos, and videos, could be considered a digital asset and should be planned for in an estate plan accordingly.
For noncelebrities, the types of digital assets at stake may differ, but the need to plan is just as urgent. We now live in the age of the microcelebrity, where being an influencer is a career goal for over half the members of Gen Z,6 and digital assets (e.g., videos, photos, online courses, and virtual goods) are core to personal branding, income generation, and legacy. They may also hold deep sentimental value for people who are not “internet-famous.”
If you have digital photos, videos, online accounts, or cloud storage accounts, creating digital asset inventories, establishing powers of attorney with explicit authority over digital access and management, and appointing a digital executor or trustee are essential first steps for creating a plan for such assets. Digital asset planning is an evolving area that requires creativity and ongoing updates.
We’re Your Huckleberry
Kilmer’s legacy reminds us that even the most iconic lives require careful planning to preserve their voice—literally and figuratively—for the next generation. When it is time to plan your own estate, find an advisor who can look you in the eye and confidently tell you (as Kilmer’s Doc Holliday said in Tombstone), “I’m your huckleberry.”
1 Val Kilmer’s Net Worth in 2025: Top Gun Star’s Fortune and Inheritance Plan Revealed, FM. (Apr. 2, 2025), https://www.finance-monthly.com/2025/04/val-kilmers-net-worth-in-2025-top-gun-stars-fortune-and inheritance-plan-revealed.
2Val Kilmer: Charity Work, Events, and Causes, Look to the Stars; The World of Celebrity Giving, https://www.looktothestars.org/celebrity/val-kilmer (last visited July 30, 2025).
3 Philip Ellis, Fans of Val Kilmer Can Hear His Voice Again Thanks to Artificial Intelligence, Cancer + Careers (Apr.2022), https://www.cancerandcareers.org/newsfeed/news/posts/2022/4/fans-of-val-kilmer-can-hear-hi.
4 Sam Fielding, Val Kilmer’s Legacy: Who Controls His Voice, Image, and Royalties After Death?, Lawyer Monthly (Apr. 2, 2025), https://www.lawyer-monthly.com/2025/04/val-kilmer-estate-voice-image-legacy.
5 Id.
6 Gili Malinsky, 57% of Gen Z’ers want to be influencers—but “it’s constant, Monday through Sunday,” says creator, MakeIt (Sept. 14, 2024), https://www.cnbc.com/2024/09/14/more-than-half-of-gen-z-want-to-be-influencers-butits-constant.html.
Planning Beyond the Ring: Estate Insights from George Foreman
Born into an impoverished Houston household in 1949, George Foreman lived a rags-to-riches tale of pure Americana: Olympic gold medalist, heavyweight boxing champion, ordained minister, global pitchman, and father to a dozen children.
At the time of his death on March 21, 2025, his estate was estimated to be valued at $300 million. Surprisingly, most of his wealth came not from his triumphs in the ring but from his success as a businessman—specifically from the popularity of the George Foreman Grill.1 From the boxing ring to the boardroom, Foreman built a brand that outlasted his gloves and redefined what a postretirement legacy could look like for a champion athlete.
Unlike many celebrities, Foreman was considered relatable and connected to his audience. That relatability extends to many of the estate planning issues he had to navigate as someone with multiple marriages, a large blended family, and adopted children.
Spousal Support
Foreman was married more times (five) than he was crowned world heavyweight boxing champion (twice). Foreman’s final marriage, to Mary Joan Martelly, lasted nearly 40 years, a testament to the kind
of second act that defined much of his life. His four earlier marriages lasted a total of about nine years. We do not know whether alimony was part of any of his prior divorce settlements or if Foreman
remained liable for any support at the time of his death; the details remain private. However, every ex-spouse is a potential long-term liability unless outstanding or existing obligations are clearly addressed through coordinated estate planning.
In most cases, alimony ends when either spouse dies—but not always. A divorce decree can explicitly require that financial support payments continue after the payor’s death—often being satisfied through a life insurance policy naming the ex-spouse as beneficiary. Regardless of whether the life insurance policy lapses or the provision in the divorce decree is forgotten, the estate may still be on the hook for any unpaid obligation of the decedent. A divorce may also create complications after death, such as unresolved child support obligations, property settlement issues, or outdated beneficiary designations on things such as retirement accounts or life insurance policies.
Without complete documentation and follow-through, any of these arrangements, buried in decades-old court files, could resurface as claims against the estate after someone dies.
If you have been married more than once, it is important to review each divorce decree and support order, confirm that any past obligations have been resolved or you have plans to resolve them, and make sure that your account titles and beneficiary designations match your current family structure.
Foreman the Father
Foreman often spoke about using his namesake grill to cook for his large family, which included twelve children: five sons (all named George Edward Foreman) and seven daughters, two of whom were adopted.
He also spoke frequently about the importance of family. In one interview, he said his children were “one thing I’m most proud of” and that “you may have . . . an ex-wife or an ex-husband, but you can never have ex-children.”2
Foreman’s devotion to fatherhood leaves little doubt that his children (and possibly his grandkids and great-grandkids) will be beneficiaries of his estate, regardless of whether they were part of his family through birth or adoption. Foreman said that “each child is different and you’ve got to treat them differently.”3 According to daughter Georgetta, he made each child feel special with dedicated days that would focus on just one child at a time.4 Accordingly, Foreman’s estate plan may have followed a “fair but not equal” inheritance structure that recognizes differing needs, life paths, and circumstances among heirs and avoids a one-size fits-all approach.
Fairness in your estate plan does not necessarily mean that each beneficiary receives identical treatment. Equal shares are not always what they seem, and “fair” does not always mean the same.
For example, a daughter running a family business might inherit more operational control than a son pursuing a music career, and a special needs heir might be provided for through a supplemental needs trust while others receive outright distributions.
Which George?
What’s in a name? When the name is George Foreman, a great deal. Foreman explained on many occasions that he named all his sons George to unite his children.5 “I wanted them to have something in common . . . I tell them if one goes up, we all go up. If one gets in trouble, we’re all in trouble.”6 However, having many children with the exact same name could lead to trouble in legal or financial documents if each George Edward Foreman was not clearly differentiated as a distinct beneficiary. “To my son George” works only if you have just one. If you have five, clarity is critical.
The boxer gave each son a nickname (George Jr. is “Junior;” George III is “Monk”; George IV is “Big Wheel”; George V is “Red”; and George VI is “Little Joey”) so “they’re recognized and treated as individuals.”7 He may have referenced these nicknames on an estate planning document, such as a will or trust, or in joint accounts, beneficiary designations, or other financial arrangements where his sons were beneficiaries, to ensure that each “George Edward Foreman” was correctly distinguished.
You probably do not have several identically named sons or daughters, but multiple people sharing the same name within a family is a common way to pass names down through generations and honor family members. To avoid any confusion or legal complications, always use as much specific identifying information in official documents as possible (e.g., middle initials or full middle names, dates of birth, addresses, or Social Security numbers) when dealing with beneficiaries who share the same (or similar) name.
Business Champ
Foreman earned significantly more money from his endorsement deal for the George Foreman Grill than from his boxing career.8 The Lean, Mean, Fat-Reducing Grilling Machine reportedly earned him more than $250 million in royalties and naming rights.9 At one point, Foreman earned up to $8 million per month from his profit-sharing deal with Salton, Inc. (now Spectrum Brands).10 In 1999, the company paid him $138 million in cash and stock for the right to use his name on the grill in perpetuity.11 To date, the grill has sold over 100 million units.12
For someone whose name became a commercial empire, clear planning around intellectual property and brand management was essential. It is possible that Foreman’s estate plan addressed these issues using tools such as a family trust or business entity (e.g., a corporation or limited liability company), perhaps allocating control or residual income among his loved ones.
Anyone who owns a business, earns royalties, or has valuable intellectual property must look beyond how their financial accounts and property will be divided in their estate plan. It is equally important to consider who will manage, protect, and benefit from those intangible, yet highly valuable, assets.
Ask yourself, “Who owns the intellectual property or business interest? Who, if anyone, is named as successor or manager? Are royalty rights, control rights, and income distribution clearly addressed in my estate plan?”
Create a Plan That Performs After the Final Bell
Even a champion like George Foreman, who went toe-to-toe with Muhammad Ali and Joe Frazier, could not duck the need for a comprehensive estate plan that addresses specific needs and circumstances. Our estate planning attorneys can help you land the right combinations before the final bell so that, when it sounds, your beneficiaries do not have to rely on a controversial scorecard for a decision.
1George Foreman Net Worth $300 Million, Celebrity Net Worth (Mar. 22, 2025), https://www.celebritynetworth.com/richest-athletes/richest-boxers/george-foreman-net-worth.
2 Rod Thomas, George Forman on Fatherhood, CBN, https://cbn.com/article/not-selected/george-foremanfatherhood-0 (last visited July 30, 2025).3 Id.
4 Id.
5 Makena Gera, George Foreman’s Kids: All About the Boxing Legend’s Sons and Daughters (and Why He Named All 5 of His Sons George, People (Mar. 22, 2025), https://people.com/all-about-george-foreman-kids-8683510.
6 Id.
7 Deanna Janes, Why did George Foreman name his 5 sons George? He’s offered a few reasons, Today (Mar. 22, 2025), https://www.today.com/parents/celebrity/george-foreman-kids-rcna134106.
8 George Foreman Net Worth $300 Million, Celebrity Net Worth (Mar. 22, 2025), https://www.celebritynetworth.com/richest-athletes/richest-boxers/george-foreman-net-worth.
9 Brian Warner, How George Foreman Knocked Out a Quarter-Billion Dollar Payday With an Unlikely Invention, Celebrity Net Worth (Mar. 12, 2025), https://www.celebritynetworth.com/articles/entertainment-articles/georgeforeman-reveals-exactly-much-made-famous-grill.
10 Id.
11 Id.
12 Id
From Game Shows to Estate Plans: Insights from Regis Philbin
Regis Philbin, the Guinness World Record holder for the most hours on US television, was a familiar face in millions of homes for decades. By the time he retired from his show Live with Regis and Kelly in 2011, he had spent more than 16,740 hours in front of the camera.1
Philbin passed away in 2020, leaving behind an estate worth approximately $150 million2 that was likely divided between his wife, Joy, and children. He had four children: Danny (who died in 2014) and Amy from his first marriage and daughters Joanna and Jennifer with Joy. While Philbin accumulated most of his net worth as the host of game and talk shows, his estate planning documents and court records show that he also left millions in other assets behind.
More Properties, More Problems
At the time of his passing, Philbin owned at least two properties: a Manhattan apartment3 and a Beverly Hills condo.4
According to Radar Online, Philbin’s estate filed a will with New York Surrogate’s Court (i.e., probate court) that listed $16.5 million in property and millions more in stocks, bonds, and cash to be overseen by Joy as the executor of his will.5 However, a large portion of his estate was placed into a trust containing assets not listed in the will, court documents show.6
That trust could have contained his New York and California homes, which would have spared Joy and the rest of his loved ones considerable hassles by having to probate properties in multiple states.
Real property titled in an individual’s name (as opposed to being held in a revocable living trust) that is located in a state other than where the individual lives may require a separate probate proceeding in each state where the property is located. State laws vary, but New York’s probate process is notoriously slow and burdensome (especially in New York County, where Manhattan is), while California’s comes with both statutory attorney and statutory executor fees based on the estate’s gross value.
Predeceased Heirs and Plan Updates
A notable aspect of Regis’s plan was that he updated it following the death of his son, Danny. Born with a spinal cord defect, Danny died of natural causes in November 2014, predeceasing his father by nearly six years.7 Regis signed his final will just two months later, on January 15, 2015.8 The timing of these events is probably not a coincidence. Regis’s 2015 estate plan is a case study in why estate plans must change with life. The death of a child, the birth of a grandchild, a new marriage, or a change in financial circumstances are some key life events that should trigger you to revisit your plan. An outdated estate plan may not reflect your wishes at the time of your death and could result in outcomes you would never have chosen.
My Three Daughters
Blended families are becoming increasingly common in America. Today, approximately one in six children grows up in a blended household, and nearly two in five families include a stepparent.9 These numbers continue to rise as remarriage becomes more common.
While Philbin did not necessarily live in a blended household, he did have children from different relationships. It would not be uncommon in this situation to face challenges when deciding how to fairly structure an estate plan. Reports indicate that Philbin took a thoughtful approach, providing for his surviving spouse and their children in common while also making provisions for the children from his earlier relationship.
However, when it came to appointing someone to carry out the terms of his will in probate court (called the executor in New York), Philbin prioritized his wife and their children by leaving clear instructions: “I appoint my spouse, Bette Joy Philbin, as my Executor of this Will,” Philbin’s will states.10 “If my spouse shall not qualify or, having qualified, at any time shall not continue to act, then I appoint my daughter Joanne Philbin as successor Executor of this Will.”11 “If Joanne Philbin shall not qualify or, having qualified, at any time shall not continue to act, then I appoint my daughter, Jennifer Philbin, as successor Executor of this Will.”12 This language provides a crucial estate planning lesson: to build contingencies into a plan, including having backup decision-makers and heirs.
While Danny’s passing underscores the need to update documents as circumstances change, some changes could occur after your death, which is why every estate plan should include backup executors, trustees, and beneficiaries to ensure that someone you trust—and chose—is always available to step in.
However Philbin ultimately structured his estate plan, he was wise to put one in place. By doing so, his intentions and wishes had the force of law. Without a clear and carefully designed plan, blended families often face confusion, disagreements, or even legal disputes over inheritance. Philbin’s example shows how proactive estate planning can help avoid conflict and preserve family harmony.
Your Estate Plan Is a Lifeline
As a former host of the Who Wants to Be a Millionaire game show, Philbin gave contestants three “lifelines” to help them answer a question if they needed it: narrowing down their multiple choice options from four to two, phoning a friend to ask them for their insights, or polling the audience. You need a more reliable strategy for your estate plan, however. Philbin did not leave his “final answer” up to chance and neither should you.
Instead of phoning a friend, call us to schedule a time to work on your estate plan—a lifeline for you and your loved ones.
1 Most hours on US television, Guinness World Records Limited 2025, https://www.guinnessworldrecords.com/world-records/most-hours-on-us-television (last visited July 30, 2025).
2 Regis Philbin Net Worth $150 Million, Celebrity Net Worth (Jan. 30, 2025), https://www.celebritynetworth.com/richest-celebrities/regis-philbin-net-worth.
3 Mike Mishkin, Upper West Sider, Regis Philbin, Dies at 88, I Love the Upper West Side (July 25, 2020), https://www.ilovetheupperwestside.com/upper-west-sider-regis-philbin-dies-at-88.
4 Teles Cofounder Ernie Carswell Reps Regis Philbin in Condo Buy, Medium (Mar. 2, 2016), https://medium.com/real-estate-reimagined/teles-cofounder-ernie-carswell-reps-regis-philbin-in-condo-buyeffed2929507.
5 Douglas Montero, Regis Philbin’s Will Reveals TV Legend Left Behind $16 Million In Property, Put Wife Joy in Charge of Estate Worth $150 Million, Radar (June 1, 2021), https://radaronline.com/p/regis-philbin-will-16-millionwife-joy-kids-millions-kelly-ripa.
6 Id.
7 Stephanie Dube Dwilson, Daniel Philbin’s Cause of Death: How Did Regis Philbin’s Son Die? (EntertainmentNow (Dec. 19, 2024), https://entertainmentnow.com/news/daniel-philbin-regis-son.
8 Douglas Montero, Regis Philbin’s Will Reveals TV Legend Left Behind $16 Million In Property, Put Wife Joy in Charge of Estate Worth $150 Million, Radar (June 1, 2021), https://radaronline.com/p/regis-philbin-will-16-millionwife-joy-kids-millions-kelly-ripa.
9 Kristin McCarthy, M.Ed., Blended Family Statistics: A Deeper Look Into the Structure, Love to Know (Aug. 5, 2021), https://www.lovetoknow.com/parenting/parenthood/blended-family-statistics.
10 Douglas Montero, Regis Philbin’s Will Reveals TV Legend Left Behind $16 Million In Property, Put Wife Joy in Charge of Estate Worth $150 Million, Radar (June 1, 2021), https://radaronline.com/p/regis-philbin-will-16-millionwife-joy-kids-millions-kelly-ripa.
11 Id.
12 Id.
