Following the wrestling legend’s death last week, there’s already much speculation about the distribution of Hulk Hogan’s (born Terry Bollea) substantial estate, estimated to be worth approximately $25 million. The situation involves complex family dynamics, Florida inheritance laws and potential legal challenges that could shape how his legacy is divided.
Estate Value and Assets
Hogan amassed considerable wealth throughout his career as a wrestling superstar, brand spokesperson and entrepreneur. His estate reportedly includes a real estate portfolio valued at over $11 million, two separate homes forming a compound in Clearwater Beach, Fla., business ventures including Real American Beer, which he launched last year, a successful Florida bar and plans for a $7 million establishment near Madison Square Garden, as well as various trademarks and intellectual property related to his wrestling persona.
Florida Law and Spousal Rights
Hogan, who shares two children, Brooke and Nick, with his first wife Linda, was married to his third wife, Sky Daily, at the time of his death. Under Florida’s spousal elective share statute, Daily is legally entitled to receive at least 30% of his estate, even if the will or trust wasn’t updated after marriage. This provision applies despite their relatively short 2-year marriage and could create potential tension with other family members. It’s also possible that Hogan could have left Daily a large chunk of his estate, therefore biting into what would likely have been left for his children and grandchildren, setting more grounds for a will contest.
While details of Hogan’s will are unknown, he reportedly established both a revocable trust and a personal trust, strategies commonly used to maintain privacy, keep assets out of probate court and shield them from creditors. However, these strategies aren’t foolproof, and an estate can still end up in court if a trust contest arises, which is often the case when there’s family discord.
Family Dynamics and Potential Disputes
The public family’s strained relationship was no secret, with his daughter Brooke reportedly estranged from her father in recent years. According to recent reports, Brooke asked Hogan’s financial advisor to be removed as a beneficiary of her father’s estate in 2023, with sources indicating that Brooke’s decision stemmed from distrust of people in Hogan’s inner circle whom she believed were taking advantage of his fame and fortune. Despite requesting removal from the main estate, Brooke is reportedly set to receive funds from a small life insurance trust, which she intends to use for her children’s education.
According to Jonathan Forster, shareholder/director at Weinstock Manion, the plot twist here is that “a financial advisor doesn’t have the power to remove Brooke as a beneficiary of Hulk Hogan’s estate. If Brooke truly wants to be removed as beneficiary, she will need to formally disclaim her beneficial interest in a signed document and deliver the disclaimer to the executor within nine months of Hulk Hogan’s date of death (if she didn’t do so already prior to his death). Once she signs and delivers the disclaimer, she will be treated as if she predeceased Hulk Hogan.”
Given Brooke’s desire to be removed as beneficiary, a will challenge by her is unlikely—that is, if her wishes were or will be granted. However, Brooke’s alluding to her distrust of people in Hogan’s inner circle means that Hogan’s estate might not be in the clear. Even if Hogan had air-tight estate planning in place, it wouldn’t be surprising to see news of family discord and potential claimants surface in the coming weeks.
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