Surprising Details Of Hugh Hefner's Trust Emerge
The family of the late Playboy founder must follow some strict rules if they want to receive any of his money.
E! News reports that Hugh Hefner set up a trust for his four adult children and his third wife, Crystal. But there's one major stipulation. A beneficiary must not be abuse any substances, meaning no illegal or legal drugs and no reliance upon alcohol. If it's found that any of the beneficiaries have not followed this rule, they will be suspended from the trust until they've been substance-free for at least 12 months.
Trustees can reportedly request that beneficiaries be tested if they suspect that they have become dependent on alcohol or drugs. If tests show that the beneficiary has been abusing a substance, they can agree to enter treatment, which will be paid for by the trust.
Hefner also disinherited any and all potential offspring of his that comes forward after his passing or that he has not specifically named.
Hefner's sons Marston and Hefner were named co-trustees, after the first trustee, Hefner's secretary Mary O'Connor, passed away in 2013. Hefner recognized that there could be conflicts of interest, but ultimately wanted his sons to serve as trustees "because of their special knowledge and skills and relationship to [him]."
However, Marston and Hefner cannot serve as co-trustees until they turn 30 years old.
As Nicki Swift previously reported, Hefner died on Wednesday, Sept. 27, 2017. According to a statement from his family, he passed away peacefully in his home. A later report revealed he died as a result of cardiac arrest and respiratory failure. He was 91 years old.
While we wait to learn more about Hefner's trust, read up on the untold truth of the Playboy mogul.