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Independent: Andrew Goldstone comments on David Bowie's will

Posted on 01 February 2016. Source: Independent

Independent: Andrew Goldstone comments on David Bowie's will

Over five decades David Bowie sold more than 140 million records and amassed an estate worth $100m (£70m). The beneficiaries of this remarkable career were revealed as his wife, Iman, and his two children.

Iman, Bowie’s supermodel wife of 24 years, will receive half of his estate, reportedly in instalments four times per year. But the will, filed under Bowie’s legal name, David Robert Jones, says the 60-year-old can ask for extra money for “health, education and maintenance”.

The remaining estate will be split mainly between Duncan Jones, Bowie’s 44-year-old son from his marriage to Angela Barnett, and Alexandria Zahra Jones, his 15-year-old daughter with Iman. The singer also left $2m to his personal assistant Corinne Schwab, as well as his shares in a company called Opossum Inc. Marion Skene, his son’s former nanny, will get $1m.

The will, written in 2004, indicated that his penthouse apartment on Lafayette Street, Manhattan, should go to Iman, while his mountain home in upstate New York should go to his daughter.

Commenting on Bowie’s tax position, Andrew Goldstone of Mishcon de Reya said: “One might have expected David Bowie to be English-domiciled upon death, even though he moved abroad decades ago. Depending on how his will was written, there is likely to be an exemption from English inheritance tax and US estate tax on whatever he leaves his wife.” However, his children could be affected by tax".

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