George Steinbrenner’s Will

George Steinbrenner’s will, executed on July 5, 2005, was filed in a Tampa probate court. Here are some specifics about his will:

• An undisclosed portion of his estimated $1.1 billion estate will go into a trust for Joan, his widow
• It assigns Robert Banker, Steinbrenner’s lawyer, to decide whether Joan’s trust should pay estate tax this year or the year in which Joan dies
• The bulk of Steinbrenner’s assets, including a controlling interest in the Yankees, goes into a trust. The trustees can only sell this interest upon a majority vote of the trustees.

See Dan Mangan, The Boss’ Will Power: Nifty Move Gives Trust Option Year on Taxes, N.Y. Post, July 28, 2010.

Special thanks to Peter Parlapiano (2011 MBA/M.S. PFP candidate, Texas Tech) for bringing this to my attention.