What will become of Matthew Perry’s rumored $20M annual ‘Friends’ residuals?
What Will Happen to Matthew Perry’s Reported $20M Per Year ‘Friends’ Residuals?
Love it or hate it, there’s no denying the massive impact of the hit sitcom “Friends.”
Even in 2023, nearly two decades after its finale, the show continues to dominate cable television, airing on channels like TBS and Nick at Nite.
For the six main cast members – Matthew Perry, Matt LeBlanc, David Schwimmer, Jennifer Aniston, Lisa Kudrow, and Courteney Cox – this means big bucks in residual checks.
Back in 2015, it was reported that each actor received a staggering $20 million annually from syndication income alone.
But with Perry’s recent unexpected death, what will happen to his residuals?
Charlie Douglas, a certified financial planner, suggests three possibilities:
- Perry may have named a beneficiary to receive his residual payments through his actors’ union.
- He may have named a trust, keeping the beneficiary private.
- If Perry didn’t name a beneficiary, the state of California, where he resided, would determine what happens to his future earnings.
If the state steps in, it’s likely that Perry’s parents would receive the residuals, or they could pass them on to his half-siblings.
While the fate of Perry’s residuals remains uncertain, one thing is clear – the enduring popularity of “Friends” continues to bring in massive profits for its cast.
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The post What Will Happen to Matthew Perry’s Reported $20M Per Year ‘Friends’ Residuals? appeared first on The Western Journal.
Did Matthew Perry name a beneficiary for his residuals from ”Friends” in his will?
Ens to the residuals.
If Perry did name a beneficiary, that person would continue to receive his residuals as specified in his will. This could be a family member, friend, or even a charitable organization. It would be up to Perry to decide who receives his income in the event of his passing. Alternatively, Perry may have chosen to create a trust to manage his financial affairs. With a trust, the beneficiary of the residuals would remain private and be determined by the terms of the trust agreement. This is a common strategy used by celebrities and individuals seeking to maintain privacy regarding their wealth and assets. However, if Perry did not name a beneficiary or create a trust, the state of California would step in to determine what happens to his residuals. In California, if a person dies without a will or any named beneficiaries, their assets are subject to intestate succession laws. These laws determine how the assets are distributed among surviving family members. In Perry’s case, since he was not married and did not have any children, his residuals and other assets would likely go to his parents or other close relatives, such as siblings. If Perry has no surviving close relatives, the assets may end up being distributed amongst more distant relatives or, in some cases, escheat to the state. Regardless of what happens to Perry’s residuals, the fact remains that his contributions to “Friends” will continue to generate income for years to come. The show’s popularity and longevity ensure a steady stream of syndication revenue, benefiting all the main cast members. Even after Perry’s passing, his talent and portrayal of the beloved character Chandler Bing will be remembered and celebrated. While Perry’s reported million annual residuals from “Friends” are impressive, it is important to remember that his financial legacy extends beyond just this single show. Perry has had a successful career in television and film, appearing in numerous other projects that likely contribute to his overall income and wealth. In conclusion, the fate of Matthew Perry’s reported $20 million per year residuals from ”Friends” will depend on whether he named a beneficiary, created a trust, or left behind a will. If not, the state of California will determine the distribution of his assets. Regardless, Perry’s legacy as a talented actor and his contributions to the entertainment industry will endure, ensuring his financial impact continues to be felt for years to come.
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