Olivia Newton-John was worth roughly $60 million at the time of her death on Aug. 8, 2022. However, she spent her last years giving as much as she could to charity, reports The Express’ recent article entitled “Olivia Newton-John fortune: Incredible final acts of generosity as inheritance split.”
Charitable donations are an excellent tax-savings strategy.
Olivia Newton-John was first diagnosed with breast cancer in 1992. The Australian singer underwent extensive treatment, including a partial mastectomy, and was given a clean bill of health. However, in 2013, she was told she had breast cancer a second time, and once again, she beat the disease, getting another all-clear after treatment.
Soon after her second diagnosis, the singer founded the Olivia Newton-John Cancer & Wellness Centre, which reportedly cost $189 million at a Melbourne hospital. In 2015, she founded the Olivia Newton-John Cancer Research Institute, and in 2020 she launched the Olivia Newton-John Foundation Fund, which sponsors research in herbal cancer treatments.
How did Olivia Newton-John plan her Estate?
After she was diagnosed with stage four breast cancer, she began selling off parts of her impressive real estate portfolio which spanned multiple countries, with all of the proceeds going toward her charities. She reportedly sold her incredible Australian home for $4.6 million. Olivia Newton-John had initially purchased the 187-acre property in the eighties and rebuilt the home in the early 2000s. Over the decades at her home, it has been reported that she planted 10,000 trees on the property and sold it with the intent that someone equally involved and loving of wildlife would continue her work.
Charitable donations are excellent tax-saving options to implement in estate planning.
She also wanted to sell her Californian horse ranch for $5.4 million. However, she later decided instead to live out her last days at the ranch and transferred the ownership to her husband, John Easterling. Olivia Newton-John was married to John Easterling, who is reportedly expected to inherit her fortune alongside Chloe, her 36-year-old daughter, with her first husband, Matt Lattanzi.
As the details are made public, we will, of course, continue to update you. Something tells me that she did a fantastic job in planning and that her daughter and husband are well prepared.
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Reference: The Express (UK) (Sep. 26, 2022) “Olivia Newton-John fortune: Incredible final acts of generosity as inheritance split”