Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education
BBC Homepagelow graphics version | feedback | help
BBC News Online
 You are in: Entertainment
Front Page 
World 
UK 
UK Politics 
Business 
Sci/Tech 
Health 
Education 
Sport 
Entertainment 
New Music Releases 
Talking Point 
In Depth 
AudioVideo 
Tuesday, 14 March, 2000, 12:10 GMT
Linda leaves fortune to Paul
Linda and Paul McCartney
Linda McCartney is believed to have left Sir Paul many millions
Linda McCartney has left her entire fortune to her husband Sir Paul in a trust fund that makes her estate virtually free from taxes.

The American-born photographer, animal rights campaigner and businesswoman died on 17 April 1998, aged 56, after a long battle with breast cancer.

Her will, filed in a New York City court, bequeaths everything to James Paul McCartney in a "qualified domestic marital trust".

The will does not state the monetary value of Lady McCartney's estate except to say that it is more than $1m (636,000). However, her vegetarian food business alone was last estimated to be worth $60m (38m) a year.

Sir Paul, 57, who was married to Linda McCartney for 29 years, will receive the net income from the trust in quarterly payments. He will also have access to as much of the principal amount as he wants for the rest of his life.

Royality payments

The will also states that the former Beatle - who is himself worth an estimated 500m (318m) - should benefit from royalties from books, records and any payments for the use of his wife's photographs.

Stella McCartney
Fashion designer Stella McCartney will benefit on her father's death
If Sir Paul dies, the estate will be shared between her four children: Heather, 37, a daughter by her first marriage, and Mary, 28, Stella, 27, and James, 22, from her marriage with Sir Paul.

However, the will is said to make no formal provision for the animal charities Lady McCartney supported with vigour right up until her death.

During her lifetime Lady McCartney carved herself several successful careers and became a millionaire independently of her pop star husband.

As well as being an acclaimed photographer, she wrote music and in 1991 launched her own international line in mainstream vegetarian foods.

British death duties on a will such as hers would be up to 40%. But by maintaining her US citizenship, Lady McCartney made sure her will would be filed in the States, thus exempting her husband from all federal, state and city taxes.

Search BBC News Online

Advanced search options
Launch console
BBC RADIO NEWS
BBC ONE TV NEWS
WORLD NEWS SUMMARY
PROGRAMMES GUIDE
Internet links:


The BBC is not responsible for the content of external internet sites

Links to other Entertainment stories are at the foot of the page.


E-mail this story to a friend

Links to more Entertainment stories