Who Inherited Elizabeth Taylor’s Money?
Elizabeth Taylor was one of the most iconic and influential actresses of her time. Throughout her career, she amassed a significant fortune through her successful acting career, business ventures, and various endorsements. When she passed away in 2011, the question of who would inherit her vast wealth became a topic of great interest. In this article, we will explore the individuals and organizations that inherited Elizabeth Taylor’s money.
1. Elizabeth Taylor’s Children:
Elizabeth Taylor had four children, and it was widely expected that they would be the primary beneficiaries of her estate. Her children include Michael Wilding, Christopher Wilding, Liza Todd, and Maria Burton. However, it is important to note that Taylor’s estate plan was not made public, so the exact details of her inheritance distribution remain unknown.
2. Charitable Organizations:
Elizabeth Taylor was known for her philanthropic efforts, particularly in the fight against HIV/AIDS. She co-founded the American Foundation for AIDS Research (amfAR) and The Elizabeth Taylor AIDS Foundation (ETAF). It is highly likely that a significant portion of her wealth was left to these organizations to continue her charitable work.
3. Richard Burton:
Richard Burton, Taylor’s fifth husband, had a significant impact on her life. The couple had a tumultuous relationship, marrying and divorcing twice. Despite their ups and downs, they remained close until Burton’s death in 1984. It is speculated that Burton may have been included in Taylor’s estate plan, although the exact details are unknown.
4. Close Friends and Family:
Taylor had a close-knit circle of friends and family who were an integral part of her life. It is possible that some of her wealth was left to these individuals as a token of her appreciation and love. However, without specific information about her estate plan, it is challenging to determine who exactly inherited her money within this group.
5. Estate Taxes and Legal Fees:
When a person passes away, their estate is subject to various taxes and legal fees. It is important to consider that a significant portion of Elizabeth Taylor’s wealth may have been used to cover these expenses. Estate taxes can be substantial, and legal fees associated with the administration of the estate can also be significant.
6. Art and Jewelry Auctions:
Elizabeth Taylor was known for her extensive collection of art and jewelry. After her death, a series of auctions were held to sell off her valuable possessions. These auctions generated millions of dollars, which were likely used to settle any outstanding debts and distribute the remaining wealth to the designated beneficiaries.
In conclusion, the exact details of who inherited Elizabeth Taylor’s money remain largely unknown to the public. While her children, charitable organizations, and close friends and family are likely beneficiaries, the specifics of her estate plan have not been disclosed. It is important to respect the privacy of the individuals involved and acknowledge that the distribution of wealth is a personal matter. Elizabeth Taylor’s legacy as an actress, philanthropist, and style icon will continue to inspire generations to come, regardless of who ultimately inherited her fortune.
