A year after announcing he had terminal cancer, Rush Limbaugh has passed away. All indications are that he left a very sizable estate.
Wealth Advisor’s recent article entitled, “Rush Limbaugh’s Secret Estate Plan” reports that some estimates put his net worth above $600 million, which may be only his career earnings and not a real net figure. However, it gives you an idea about the amount of cash flowing into his operation over the years.
Limbaugh’s “Southern Command” in Palm Beach alone may be worth $50 million as an estate asset.
Since Rush’s widow, Kathryn, and he didn’t have children, it appears she will inherit his entire estate.
Limbaugh hated taxes and wished to protect his privacy. However, that privacy wasn’t perfect: the commercial rights to his show and auxiliary businesses were held in an LLC named after his widow, Kathryn, and himself. Kathryn Adams Rush Hudson Limbaugh = KARHL. KARHL Holdings LLC was formed in 2010, when Rush and Kathryn got married. The business had two employees, Kathryn and Rush. It shares an address with a charitable foundation the couple set up in their names.
The foundation is fairly modest by billionaire standards, but a few million dollars a year have moved in and out to Rush-friendly organizations. Perhaps it will inherit his stake in KARHL and start making huge grants. No matter what, Kathryn, will make those decisions. Now that Rush is dead, Kathryn and her aged mother are the only officers of record, and if she inherits his interest in the LLC, the benefit goes to her.
Some of the tabloids reported that Rush hated Kathryn toward the end of his life and he tried to cut her out of his will. However, if that was the case, he likely would have liquidated the holding company and wound down the foundation. That didn’t happen. With his diagnosis, Rush had a year to consider his mortality. There may have been a prenuptial contract, but Kathryn’s name is on all the organizations with his, and these organizations were set up after the marriage.
It looks like Rush intended for Kathryn to assume control of his assets.
The big question is who inherits his desk and his microphone?
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Reference: Wealth Advisor (Feb. 18, 2021) “Rush Limbaugh’s Secret Estate Plan”
