INSIDE WILL CARUTH’S WILL

LEGENDS When WILL CARUTH JR. died at 78 this past spring from a self-inflicted gunshot wound, he left behind an estate worth perhaps more than $1 billion. So who gets it? Not his four sons, that’s for sure. The will shows that BILL. GEORGE, JOHN, and BOB Caruth will each receive “the sum of One Dollar ($1.00)” from their father. But there’s no malice here. Legally, a one-buck bequest is designed to show clear intent. In other words, the sons-and prospecting lawyers-can’t claim they were left out of the will due to a memory lapse.

In this instance, however, it’s likely that none of the four sons batted an eye. Caruth explained in his will that his actions were not due to any lack of love for his children, but because they had already been “amply provided for by prior gifts”- namely trusts created by the sons’ grandparents, w.w. ca-ruth Sr, and earle Clark caruth. While the trusts provide a fixed monthly income that would thrill most of us, they fall short of “lifestyles of the rich and famous,” which the ever-frugal Caruth eschewed.

The remainder of the will’s provisions seem straightforward, with modest gifts to loyal employees and dear friends, but there is a surprising Florida twist to the list, Caruth and his wife Mabel, who survives him, jointly owned the Plantation Inn in Crystal River, Florida, where Caruth spent much of his time during his last years. Some staff members of the inn are included in the will, including the chef ($5,000) and the greenskeeper ($7,000).

Caruth’s will reveals the Communities Foundation of Dallas as the big winner. A spokesperson at the foundation admitted the bequest was substantial, but couldn’t offer a specific dollar amount-perhaps because they’re not through counting. All told, Caruth’s gift will likely be measured in hundreds of millions of dollars.