In case you haven’t heard, Hugh Hefner “Hef”, the publisher of Playboy Magazine, died last month, at the age of ninety-one. Although his Will was not made public, It’s clear that Hef took the necessary steps to ensure that his estate plan was iron clad. Hef is survived by his third wife Crystal Hefner and four adult children from previous relationships. By utilizing tools such as a prenuptial agreement, a charitable remainder trust and strategic real estate holdings, Hef was able to prevent the potential estate conflict surrounding his death. Always an over-achiever, Hef even planned his burial plot — right next to Marilyn Monroe, the first woman to grace the cover and centerfold of Playboy.
Hef’s death is expected to spark controversy given his unique life, however there is one aspect to Hef’s passing that no one can debate – Hef was a master at estate planning. We can all agree that with proper planning, Playboys and non-Playboys alike can create and protect an inheritance for their loved ones.