Jay Leno Prepares to Die: 'Tonight Show' Icon, 74, Reveals Final Wishes and Plans to Erect Car Museum in His Honor — 'No One Lives Forever'
Comedian Jay Leno is making end-of-life arrangements to divvy up his fortune, revealing plans for a museum to house his extensive automobile collection.
Aug. 21 2024, Published 8:36 p.m. ET
Jay Leno is facing the inevitable as he makes end-of-life arrangements dictating how his fortune should be divvied up when he dies.
Court documents obtained by RadarOnline.com reveal the 74-year-old and his wife, Mavis, plan to leave a seven-figure chunk of dough to family and also open a museum to honor Jay's passion for cars.
The former late-night host updated his will in a Los Angeles court after being appointed as conservator for Mavis, 77, who has been battling severe dementia.
Jay was named Mavis's conservator due to her severe dementia.
His latest filing detailed provisions for his ailing wife's care and said the couple intended to remain in their home "for as long as reasonably possible", planning to use their funds for "assistance from household employees or caregivers as may be necessary".
Should Jay pass away first, Mavis would require court approval to make any changes to their shared trust. When they have both passed, their remaining assets will go to Jay's charity, the J.D.M. Foundation.
In 2022, Leno suffered burns after his car erupted in flames.
The organization will also be tasked with creating a museum to showcase the auto enthusiast's car and motorcycle collection. His impressive fleet of vehicles, currently housed at the Burbank Airport, is valued at an estimated $52million and consists of more than 181 cars and 160 motorcycles, according to luxury car site the DuPont Registry.
A reporter for the outlet wrote: "As the market for vintage and classic cars continues its flourishing trajectory, one can confidently predict that Leno’s collection will steadily ascend in value, solidifying his status as a comedian extraordinaire and guardian over one of the most enviable car collections found anywhere on Earth."
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The couple married in 1980 and neither have children.
The childless couple, who married in 1980, also updated the terms of their trust to increase the amount they'll leave for next-of-kin.
Jay's nephew, Richard Leno, and Mavis’s brother, Rikki Huron Nicholson, will be the beneficiaries of a $7million sum — up from $3million "to ensure that the amount set aside amount will be sufficient to support the needs of these individuals, and particularly the needs of Mavis’s brother," per court docs.
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Jay's car and motorcycle collection is estimated to be worth $52million.
The changes were approved by a court-appointed official, who wrote: "No one lives forever, and the actions taken by Mr. Leno are reasonable and necessary for his and Mavis' protection.
"Mavis does not object to the petition and, in my opinion, consents to it. Mr. Leno is her protector, and she trusts him. This estate planning is in her best interest and protects her interests."
Leno's net worth is reportedly estimated at $450million.
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