A shocking and heartbreaking news event of 2020 was the death of Black Panther star Chadwick Boseman. It was also sad that the actor had been battling colon cancer for years before succumbing to the disease on August 28, 2020. Some are wondering what will happen with Black Panther star's estate.
The movie Black Panther had become a phenomenal hit with millions of fans eagerly anticipating a sequel. A sequel is scheduled for release later this year, but it will be without its star.
MSN’s recent article entitled “Chadwick Boseman’s Widow and Family Reach Agreement Over Actor’s Estate” explains that since his passing, Boseman’s widow, Taylor Simone Ledward, was placed in charge of handling his financial affairs.
RadarOnline obtained the final report of accounting filed by Ledward. Court documents say that Boseman’s estate decreased slightly after Ledward paid a $900,000 bond for costs associated with the probate case. Her late husband’s company Chadwick Boseman, Inc., reportedly owed a tax bill worth $51,000, but the estate plans to dispute it.
Ms. Ledward asked for reimbursement for funeral expenses including $9,500 for the venue, $10K for the funeral service, $1,275 for flowers and the $7,495 cost for a mausoleum crypt at the Forest Lawn Memorial Park in Anderson, South Carolina. She also spent $22,000 to purchase mausoleum crypts for Boseman’s parents Leroy and Carolyn to be buried next to him as their final resting place. The court allowed her to be reimbursed $47,000 of the requested amount. Ledward states that the total inventoried value of the estate is $3,881,758.31. That amount includes several residual checks that have come in since March 2021. Boseman’s estate has netted more than $230,000 since his death.
The filing states, “No other assets have come into the hands of [Ledward]. All assets have been inventoried and no additional assets have been received, although [Ledward] continues to receive and deposit residual payments into the estate and/or corporate account.”
Boseman’s widow said there’s no real property of the estate, and no real estate tax is due. The California and federal income taxes have been paid, with no tax amounts currently owing.
In addition, an undergraduate scholarship has been funded in Boseman’s name in a partnership between Netflix and Howard University (his alma mater). The same institution’s College of Fine Arts has been renamed the Chadwick A. Boseman College of Fine Arts.
Whether you are a famous actor or prefer life out of the spotlight, it's is important to work with an experienced estate planning attorney to ensure that your loved ones and legacy are protected.
Reference: MSN (June 27, 2022) “Chadwick Boseman’s Widow and Family Reach Agreement Over Actor’s Estate”