Arnie’s estate divvied among family, workers, foundation
When Arnold Palmer died in September at 87, he left behind more than his legacy.
According to Forbes magazine, Mr. Palmer won $3.6 million in prize money during his 52 years on the PGA Tour and Champions Tour. But from appearances, endorsements, licensing and golf course design, the magazine said, he earned an estimated $875 million, third all-time in sports behind only Michael Jordan and Tiger Woods.
Mr. Palmer’s will, recently filed with the Orange County Clerk of Courts in Orlando, Fla., doesn’t say specifically how much his estate was worth, but it does spell out who will benefit from it — his second wife, his two daughters, select employees and his charitable foundation, Arnie’s Army.
In the will, signed in October 2014, Mr. Palmer bequeathed $10 million to his wife, Kathleen Palmer. Eight of his employees will receive $25,000 each, including his longtime secretary, Gina Varrone, his assistant, Donald Giffin, and the vice president of Arnold Palmer Enterprises, Bob Demangone, among others.
The rest of Mr. Palmer’s estate
its planning, is expected to open in the next 18 months. It will serve children ages 3 and 4, who will spend more thanhalf of each day outside.
Ms. Belli added that Winnie Palmer, who was on the board of directors at Saint Vincent College, helped create the reserve by setting aside its 50-acre property from commercial development. The late Mrs. Palmer also loved Pennsylvania barns, and the reserve relocated a large red barn to its property to serve as a learning center.
“We have reach all over the country,” Mr. Bingham said, “and the plan is to move his legacy forward.”