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Douglas Fairbanks last will and testament

Posted by Allan Ellenberger on Jul 9th, 2010
2010
Jul 9

CELEBRITY WILLS

Douglas Fairbanks wills million to his widow

 

 

 

 

By Allan R. Ellenberger

 

Douglas Fairbanks died at his Santa Monica beach house on December 12, 1939. When his will was probated less than a month later, it was learned that the actor made no mention of his former wife, Mary Pickford, bequeathing half his estate, up to $1,000,000, to his widow, the former Lady Sylvia Ashley of England. In his will, Fairbanks wrote:

 

“I respectfully request my beloved wife to devise and bequeath by her last will and testament whatever portion of said property that she receives by virtue of this instrument to such of my heirs and next of kin and for such charitable or education or patriotic purposes as she may decide in her discretion.”

 

Fairbanks added, however, he did not mean to place any restrictions upon her final disposition of the legacy.

 

The will was executed on November 2, 1936, shortly after Fairbanks married Lady Ashley. A considerable part of his property was in United Artists, film producing concern in which Mary Pickford was a partner.

 

There was some conjecture as to whether a reference to Pickford might have been made in a sealed envelope left with the will, addressed to the actors son, Douglas Fairbanks, Jr. Lawyers said it concerned a $50,000 bequest to his son.

 

Regarding the letter, Fairbanks had written by hand in the will a bequest of an additional 1/10 of property to his son requesting him to distribute the money “to the people and in the proportion as I advise him by the letter addressed to him to be found with this will.”

 

The will, which covered 13 typewritten pages, named as executors the Guaranty Trust Co. of New York, which filed the document, and the Bank of America National Trust and Savings Association of Los Angeles.

 

Among his bequests were $10,000 to the Motion Picture Actors’ Relief Fund of Los Angeles, to be known as the “Douglas Fairbanks Fund;” $10,000 to Charles L. Lewis; $37,500 in a trust fund to Kenneth Davenport of Hollywood and $37,500 to a cousin, Mrs. Adelaide Crombie of Los Angeles.

 

After these specific bequests, the will disposed of the actor’s property in part as follows:

 

Twenty-fortieths of the residue to his wife, not to exceed $1,000,000; 12/40 to his son, not to exceed $600,000; 2/40 to his brother, Robert Fairbanks, not to exceed $100,000. Another brother, Norris Wilcox of New York City, also received 1/40 or a sum not to exceed $50,000.

 

Four nieces – Flobelle Burden, Mary Margaret Chappellett, Letitia Fairbanks and Lucille Fairbanks – also shared in the estate. A trust fund of one-fortieth of the residue, not to exceed $50,000, was provided for each.

 

Fairbanks provided finally that after the bequests are made and the residue divided among his wife and the others who receive their shares in 40ths, all other property remaining be equally divided between his wife and son.

 

An affidavit by his lawyer said that Fairbanks owned all the outstanding stock of the Elton Corp., which in turn owned one-fifth of the outstanding capital stock of United Artists Corp. The shares of the United Artists Corp., representing this ownership, are in the possession of the Guaranty Trust Co. which is one of the largest assets of the estate, and is also trustee of a fund of more than $700,000 which, under the will, passes to the estate. The Bankers Trust Co. is also trustee of a fund of about $500,000 which likewise passes to the estate. There were other valuable properties within New York state, including tangible personal properties.

 

Once the will was probated, it was disclosed in a petition that Douglas Fairbanks left a net estate of $2,318,651.10 (gross valuation of $2,742,060.62) and the executor, Guaranty Trust Co., was granted to exempt the estate from taxes in New York on the grounds that the actor was a resident of California.

 

Total California assets were listed as $1,301,879.58, New York assets at $1,247,452.80, and Pennsylvania assets at $192,728.24. Fairbanks California property consisted of bank accounts and funds held by the Escondido Orange Association amounting to $63,475.44; stocks valued at $500,232.95; bonds, $76,221.37 and the balance in realty holdings in Hollywood, Santa Monica, Los Angeles, Santa Fe, Venice, Westwood and Glendale.

 

The will did not mention Fairbanks first wife, the former Beth Sully, the mother of his son, who at the time was married to musical comedy actor, Jack Whiting. Also not mentioned was his second wife, ‘America’s Sweetheart,’ Mary Pickford.

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