Matthew Perry reportedly got $20 million a year in ‘Friends’ residuals. Here’s who may get them now

Matthew Perry, renowned for his role in the popular TV show “Friends,” reportedly earned up to $20 million annually from syndication income. Following his passing, it is assumed that his estate will inherit this ongoing financial stream. The establishment of the Matthew Perry Foundation, operating as a donor-advised fund under the National Philanthropic Trust, has already been initiated in his memory. Experts in estate planning shed light on the likely future course of action.

According to Charlie Douglas, a certified financial planner and president of HH Legacy Investments in Atlanta, there are a few potential scenarios regarding the residuals based on California laws. The Screen Actors Guild-American Federation of Television and Radio Artists offers contracts allowing members to designate beneficiaries for residual payments after their passing. One possibility is that Perry might have named specific individuals as beneficiaries, similar to naming beneficiaries for accounts like 401(k) or individual retirement accounts.

Another possibility is that Perry designated a trust rather than an individual, as the beneficiary of his residual payments. In this situation, the payments would be directed to the trust, with specific instructions regarding the recipients. If Perry did not name any beneficiaries, the state law would govern the distribution of his estate.

For more information see Jessica Dickler and Greg Iacuri “Matthew Perry reportedly got $20 million a year in ‘Friends’ residuals. Here’s who may get them now”, CNBC, November 3, 2023.

Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.