Kylie Jenner, the youngest of the Kardashian-Jenner family, is a powerhouse in the world of beauty, fashion, and reality TV. With a massive following on social media and a billion-dollar business under her belt, Kylie’s estate plan is not just a necessity but a masterclass in wealth management. Let’s dive into the details of what Kylie Jenner’s estate plan might look like, based on information that is available to the public.
A Glimpse Of Kylie’s Assets
Before we can begin to build an estate plan, we first need an understanding of Kylie's asset portfolio. Here is some intel of what could make up Kylie's estate:
Estimated Net Worth: As of 2024, Kylie Jenner's net worth is estimated to be around $700 million. The bulk of this fortune comes from her cosmetics company, Kylie Cosmetics, which skyrocketed her to billionaire status at a young age.
Real Estate Holdings: Kylie owns several luxurious properties in California, including her Hidden Hills mansion and a plot of land in the same area. She also owns a Beverly Hills home shared with her ex-partner, Travis Scott. According to Architectural Digest, the real estate she currently owns adds up to a total value of around $80 million.
Business Ventures: Beyond Kylie Cosmetics, she has invested in several other ventures, including her skincare line, Kylie Skin, and her fashion collaboration with her sister, Kendall Jenner. She also earns significant income from her role in several reality TV shows, as well as from her social media endorsements and collaborations.
Luxury Items: Kylie has an extensive collection of luxury cars, a private jet, designer clothing, and high-end jewelry, all contributing to her vast estate.
Family Dynamics and Potential Heirs
Similar to Kim Kardashian, Kylie Jenner has a unique and complex family dynamic, including a shared daughter and son with her ex, Travis Scott. The two were never married.
Immediate Family: Kylie’s immediate family includes her daughter, Stormi, her son, Aire, her siblings (Kourtney, Kim, Khloé, Rob, Kendall), and her parents (Caitlyn Jenner and Kris Jenner).
Significant Relationships: Kylie shares a close bond with her sisters and mother, who have been integral to her business success. Her relationship with Travis Scott, Stormi and Aire's father, adds another layer to her estate planning considerations.
Potential Heirs: The primary heir to Kylie’s fortune would most likely be her children, Stormi and Aire. Given the Kardashian-Jenner family’s strong ties, her siblings and parents may also be considered in her estate plan. Additionally, Kylie is known to have a large number of dogs, and she does not keep her love for them a secret. It would not be surprising if the dogs were also to receive an inheritance.
Intestate Succession vs. Estate Planning
Intestate Succession
If Kylie were to pass away without an estate plan (intestate), California’s intestate succession laws would dictate the distribution of her assets. Under these laws, her estate would be divided as follows:
Stormi and Aire Webster: Kylie's two children would most likely inherit the bulk of her estate.
Parents: Since Kylie is unmarried, her parents could potentially receive a portion of her estate.
Siblings: Depending on the specifics, her siblings might also receive a share.
With an Estate Plan
Given Kylie’s immense wealth and complex asset portfolio, a comprehensive estate plan is critical. Here’s how an estate plan could benefit her and her Heirs:
Revocable Living Trust: Kylie could place her assets in a Living Trust, allowing her to manage her estate during her lifetime and ensuring a smooth transfer of assets to her Heirs upon her death, avoiding the probate process.
Guardianship Provisions: She can designate a Guardian(s) for Stormi and Aire, ensuring her children's well-being and care according to her wishes.
Tax Planning: An estate plan allows for strategic tax planning, potentially reducing estate taxes and preserving more wealth for her heirs.
Charitable Contributions: Kylie could allocate a portion of her estate to charitable causes, reflecting her philanthropic interests.
Business Succession Planning: To secure the future of Kylie Cosmetics and her other ventures, she can outline specific plans for their management and ownership transition.
Kylie’s Likely Wishes
Based on what we know about Kylie Jenner from the tabloids and her public statements, her estate plan would likely include the following considerations:
Stormi and Aire's Futures: Ensuring Stormi and Aire are financially secure and well-cared for would undoubtedly be her top priority. This includes setting up Trusts and appointing Guardians.
Love and Care for Her Pets: We would not put it past Kylie to make specific provisions for her dogs, such as a Pet Guardian and a fund made specifically for their care and well-being.
Family Support: Kylie would possibly make provisions for her parents and siblings, given their close-knit relationship and support throughout her career.
Business Continuity: Preserving the legacy and success of Kylie Cosmetics and her other ventures would be crucial. She might designate family members or trusted associates to manage these businesses.
Charity: Kylie has shown an interest in various charitable causes, so it’s likely she would include philanthropic contributions in her estate plan.
If You Own Kylie's Lip Kit, Then It Might be Time for an Estate Plan
A deep-dive into Kylie's possible estate planning strategy highlights just how unique and individual each member of the Kardashian-Jenner clan truly is. While they may share many family values, they each have their own businesses, property, and nuclear families to take care of. Even if you do not agree with what the Kardashians represent, it is undeniable that they have had a profound impact on society.
By creating a comprehensive estate plan, Kylie can ensure her legacy is preserved, her daughter’s future is secure, and her beauty empire continues to flourish even after her lifetime.
Do you have something you fiercely love and want to protect? Then it's time to plan your own estate. Find out how you can make your estate plan, and make it count, here.
Trust & Will is an online service providing legal forms and information. We are not a law firm and we do not provide legal guidance.
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