In the wake of the tragic and untimely death of Kobe Bryant, there are many questions yet to be answered. And while federal investigators are charged with determining the cause of the crash, there remains the question of what will happen to the NBA legend’s estate.
Bryant had a reported net worth well above $600 million, so Houston attorney Kenneth Fair said he believes it is very likely the family had a plan in place. “I would be shocked if there wasn’t a sophisticated estate plan in place,” said Mr. Fair, who specializes in complex probate, trust and fiduciary litigation at the Houston firm Wright Close & Barger. “Depending on the estate and the complexity of the plan itself, there will almost certainly be a lot to be done, over a long period of time.”
Mr. Fair said it is also possible that the Bryant estate could face liability in connection with the accident depending on the findings of the crash investigation. “In cases like these, there is a person named the executor of the will. That person would be in charge of collecting the assets and paying any debts – including any lawsuits against the estate. Anything remaining would go to the beneficiaries.”
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