On September 18, 2020, we lost a trailblazing icon who was the second female ever appointed to the U.S. Supreme Court. Ruth Bader Ginsburg was born on March 15, 1933. Her parents were Jewish immigrants in Brooklyn, New York, who owned and operated small retail shops to support the family. Justice Ginsburg was occasionally described as the Thurgood Marshall of the women’s rights movement because of her sense of strategy and ability to carefully select cases that allowed her to persuade the all-male Supreme Court to start recognizing the constitutional barrier against women caused by discrimination based on gender.
Although Justice Ginsburg came from humble beginnings, she amassed wealth throughout her 87 years of life, and her estate was valued at $5.8 million at the time of her death. She left most of her estate to her two children and named them both co-executors of her estate. Interestingly enough, Elizabeth Salas, her long-time housekeeper and friend of 22 years, received a $40,000 cash bequest. Salas was said to have been very close to the late justice, and Salas was seen with President Joe Biden during her lay-in state at the Capitol.
Justice Ginsburg’s will precisely details who she wanted to receive her personal effects, which included automobiles, furniture, jewelry, and art valued at approximately $250,000. In addition, she also owned personal property worth roughly $5.5 million. However, the will does not provide details regarding these assets.
Ginsburg’s remaining assets, as is the norm for high-net-worth people, are likely to be passed on via trusts or other estate planning methods.
Bequests to Caretakers
Although some may find Ginsburg’s inclusion of her housekeeper odd, it is not unusual for long-term caretakers, housekeepers, drivers, or assistants to decide to leave money to them. Individuals often leave these bequests to show their relationship is special and meaningful to their heirs.
A bequest can be considered suspect if it exceeds a nominal amount. In some jurisdictions, the bequest may be deemed invalid if deemed to have been made by undue influence, and other jurisdictions restrict the amount of money that can be left to caregivers. Because Justice Ginsburg was well-versed in the law and married to a respected tax attorney, it is implausible she experienced undue influence when she decided to include her caretaker in her will.
RBG’s Gift that Keeps Giving
In honour of Justice Ginsburg’s Berggruen Prize for Philosophy & Culture award, nearly 100 items from her estate were generously donated to SOS Children’s Villages. A wooden gavel, lace gloves, an embroidered shawl, a gold beaded collar, and an embroidered collar were auctioned off earlier this month. The proceeds will be used to fund the new RBG Endowment Fund, in addition to benefitting SOS Children’s Villages, which is based in Washington, DC a portion of The RBG Endowment Fund will be allocated each year to programs aligned with Justice Ginsburg’s values to provide education and economic empowerment to the most vulnerable children and their families.
Dedicated to nurturing and supporting the next generation of notorious pioneers, the RBG Endowment Fund continues Justice Ginsburg’s legacy of trailblazing service. Call us if you feel passionate about a particular cause and want to ensure your estate plan reflects your values and wishes. We craft custom plans for our clients that protect wealth and support the people and causes they care about most.
At Fleurinord Law PLLC, we make it a point not to just draft documents; we ensure you make educated and empowered decisions about your transition from life to death for yourself and the people you love. We offer a Family Legacy Planning Session. In preparation for this session, you will get more financially organized, which will help you make the best decisions to protect your assets. Call our office at 888-904-2297 today to schedule your initial discovery call and find out how to save $750!