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David Rockefeller’s Will and the Benefits of Avoiding Probate

Last update on: Jun 17 2020

Wills are public documents. They’re filed in a local probate court and available for anyone to view. That’s why many wealthy people hold the bulk of their assets through trusts that avoid probate. David Rockefeller, the last remaining grandson of John D. Rockefeller, died recently. A large part of his wealth was held through family trusts that avoid probate. The trust terms apparently shifted that wealth to his children immediately after his death.

But Rockefeller also owned a lot of assets in his name, and they were disposed of through his will. This article discusses the will in detail. It reveals how he choose to dispose of assets and how personal assets were to be divided among his children. Believe it or not, you might benefit from some of the details of his will.

Rockefeller started collecting beetles at age 7 and continued to collect the insects for roughly nine decades, eventually amassing more than 150,000 specimens. “Whenever I go on a trip, I always carry a jar in my pocket in case I run across beetles,” he told FORBES in 2010. His collection will be donated to the Harvard Museum of Comparative Zoology along with a $250,000 gift to install and maintain everything.

 

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