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Anthony Bourdain leaves bulk of estate to young daughter

PoS

PoS

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http://www.nydailynews.com/new-york/ny-metro-anthony-bourdain-will-20180705-story.html

Celebrity chef Anthony Bourdain has left most of his estate, which is worth up to $1.21 million, to his 11-year-old daughter new court papers reveal.




According to Manhattan Surrogate’s Court documents filed Thursday, the “Parts Unknown” star’s property includes $425,000 in savings and cash, $35,000 in brokerage money, $250,000 in personal property and $500,000 in “intangible property including royalties and residuals.”
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All he had was $1.2 million? Something's not right. I read another article in which Bourdain said he made very little in his book sales, and most of his money came from book signings and tours. He also mentioned his agent convinced him that it was better to give back to the publishing house, which to me means bad advice. His book Kitchen Confidential was a massive bestseller, and if he made little money out of it then he must have been gouged by his agent and publisher.
 
PoS said:
Anthony Bourdain leaves bulk of estate to young daughter - NY Daily News



All he had was $1.2 million? Something's not right. I read another article in which Bourdain said he made very little in his book sales, and most of his money came from book signings and tours. He also mentioned his agent convinced him that it was better to give back to the publishing house, which to me means bad advice. His book Kitchen Confidential was a massive bestseller, and if he made little money out of it then he must have been gouged by his agent and publisher.
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$1.2 million...THAT'S IT?

I like him more now.
 
PoS said:
Anthony Bourdain leaves bulk of estate to young daughter - NY Daily News



All he had was $1.2 million? Something's not right. I read another article in which Bourdain said he made very little in his book sales, and most of his money came from book signings and tours. He also mentioned his agent convinced him that it was better to give back to the publishing house, which to me means bad advice. His book Kitchen Confidential was a massive bestseller, and if he made little money out of it then he must have been gouged by his agent and publisher.
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Agreed, something is missing from the story here.
 
PoS said:
Anthony Bourdain leaves bulk of estate to young daughter - NY Daily News



All he had was $1.2 million? Something's not right. I read another article in which Bourdain said he made very little in his book sales, and most of his money came from book signings and tours. He also mentioned his agent convinced him that it was better to give back to the publishing house, which to me means bad advice. His book Kitchen Confidential was a massive bestseller, and if he made little money out of it then he must have been gouged by his agent and publisher.
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That *is* bizarre.

He also had a TV show that’s been on for over a decade, and I’m sure he had to be credited as an executive producer...that had to bring him in a million a year at least.

But... there was also this:

“The celebrity chef's New York condo, which was reported to be worth $3.35 million when he bought it in 2014, was not included in the will, but the filings indicate a $1 million mortgage liability for an unspecified property.”

So maybe there was some property that’s not being accounted for.
 
Threegoofs said:
That *is* bizarre.

He also had a TV show that’s been on for over a decade, and I’m sure he had to be credited as an executive producer...that had to bring him in a million a year at least.

But... there was also this:

“The celebrity chef's New York condo, which was reported to be worth $3.35 million when he bought it in 2014, was not included in the will, but the filings indicate a $1 million mortgage liability for an unspecified property.”

So maybe there was some property that’s not being accounted for.
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He should be worth $20-30 million at least....you are missing the big picture.

Dont let the Italian Beef cloud your judgment!
 
Jeremy Wade, from " River monsters" is like that, has very few possessions. His car is a piece of crap, pretty sure he rents an apt, etc.

Honestly, when your job is to travel the world for 8-9 months out of the year...what do you need things for?
 
FWIW, according to Celebrity Net Worth, Bourdain had a net worth of $16 million.
 
KevinKohler said:
Jeremy Wade, from " River monsters" is like that, has very few possessions. His car is a piece of crap, pretty sure he rents an apt, etc.

Honestly, when your job is to travel the world for 8-9 months out of the year...what do you need things for?
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Right.

So you end up having a boatload of cash, because you are getting paid a salary, royalties, etc, and you live off an expense account 9 months of the year.
 
Pedestrian said:
FWIW, according to Celebrity Net Worth, Bourdain had a net worth of $16 million.
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We should not confuse net worth with estate value. Especially if you are getting along in years, it's pointless to have more money than you can spend, and leaving a massive estate only means paying the government massive amounts for the privilege of dying.

1.3 million is under the estate tax cutoff. 16 million is not. Trust funds and the like can fix that.
 
jimbo said:
We should not confuse net worth with estate value. Especially if you are getting along in years, it's pointless to have more money than you can spend, and leaving a massive estate only means paying the government massive amounts for the privilege of dying.

1.3 million is under the estate tax cutoff. 16 million is not. Trust funds and the like can fix that.
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The real answer here is we should not confuse a website called 'Celebrity Net Worth' as a place to go for factual information.

Of course, your prattling about the 'massive amount paid to the government for the privilege of dying' is also factually challenged...
 
Threegoofs said:
The real answer here is we should not confuse a website called 'Celebrity Net Worth' as a place to go for factual information.

Of course, your prattling about the 'massive amount paid to the government for the privilege of dying' is also factually challenged...
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So challenge it. The estate tax threshold is currently around 5.5 million. The estate tax can run to 30% or more. The simple answer is to not leave more than 5.5 million.

I'm not an accountant, but I live pretty well on Social Security alone, and haven't paid a dime in income tax in years, and my kids and grand kids will never pay an estate tax.
 
Hawkeye10 said:
He should be worth $20-30 million at least....you are missing the big picture.

Dont let the Italian Beef cloud your judgment!
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Well, using the Bongology method of accounting, he could possibly be worth $500,000,000,000!
 
jimbo said:
So challenge it. The estate tax threshold is currently around 5.5 million. The estate tax can run to 30% or more. The simple answer is to not leave more than 5.5 million.

I'm not an accountant, but I live pretty well on Social Security alone, and haven't paid a dime in income tax in years, and my kids and grand kids will never pay an estate tax.
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No one who has a net worth of 5 million plus (and is marginally competent with money) will pay significant estate tax, since there are so many simple ways to plan around it.
 
Threegoofs said:
No one who has a net worth of 5 million plus (and is marginally competent with money) will pay significant estate tax, since there are so many simple ways to plan around it.
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That's what I said.
 
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