Here's why Matthew Perry only had $1.5 Million in his bank account at time of death

Matthew Perry's sudden demise in October 2023, left fans around the world in a state of shock. Following the actor's death, documents revealed that the 'Friends' star had just $1.5 million in his personal bank account.

This relatively modest amount raised questions about the whereabouts of Perry’s substantial earnings from his successful career in the entertainment industry.

Now, according to a report on People, probate lawyer Jonathan Forster, who is not involved in the case, provided some insights saying that is is probable that all his earnings over the years were left to his trust.

Perry’s wealth was likely transferred to his trust, the 'Alvy Singer Living Trust', before his passing. Forster noted that trusts are preferred over wills because they avoid probate, a court-supervised transfer of assets that is public.

An early estimate of Perry’s personal property was listed as $1.03 million in assets, however, an updated inventory in June revealed that the actual amount of the estate was $1.59 million.

This explains why Perry’s will indicated he owned no "real property" despite reports confirming he owned two homes at the time of his death.

Perry passed away on October 28, 2023, in a drowning at his Los Angeles home. An autopsy report revealed the cause of death as the acute effects of ketamine.
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