CNN anchor Anderson Cooper is the son of heiress Gloria Vanderbilt. She is best known as an heiress of the Vanderbilt fortune and for her branded fashion and perfume lines. She is often believed to have a trust fund worth $200 million. While Cooper is independently wealthy, it has always been assumed that he would inherit a large portion of his mother's estate. However, Cooper recently announced that he would not be receiving any of mother's trust fund.
Trust Advisor recently speculated where that money might go in "CNN's Anderson Cooper Disinherited from $200 Million Vanderbilt Estate."
One possibility is that the money could go to Vanderbilt's two other children who are lesser known and not as independently wealthy as Cooper. However, whether they have a good relationship with their mother is unknown.
The money could also go to charitable causes as many previous Vanderbilts have been high-profile philanthropists. Gloria Vanderbilt is not known for her charitable giving.
A third possibility is that the trust fund does not have nearly as much money as is often assumed. Vanderbilt has previously had legal troubles over relatively small amounts of money. That could indicate that the trust has been empty for some time.
Regardless of where the money goes, if there is any money, Gloria Vanderbilt's estate will be watched closely by media when the time comes.
Remember: “An ounce of prevention is worth a pound of cure.” When making your estate plans or when probating an estate or administering a trust, do not go it alone. Be sure to engage a Cincinnati estate planning attorney.
For more information about estate planning, probate or trust administration in Cincinnati (and throughout the rest of Southwest Ohio) and to review free resources regarding estate planning, probate or trust administration, visit my website. If you have questions regarding this article or a particular legal matter, feel free to contact me at 513-399-PLAN (7526).
Reference: Trust Advisor (Nov. 1, 2016) "CNN's Anderson Cooper Disinherited from $200 Million Vanderbilt Estate."