Hollywood Take article By Melissa Siegel
The exact value of her estate is still unclear. But between Joan’s QVC line, her Fashion Police salary, and her $30 million NYC penthouse, it’s clear Melissa will inherit plenty from her mother.
Joan Rivers’ death has led to a host of questions about the late comedian’s net worth. If her funeral is any indication, daughter Melissa and the rest of the family should be well taken care of.
The ceremony was just as lavish as Joan Rivers wanted it. Despite Rivers’ now-famous 2012 quote about her ideal funeral, the event did not feature Meryl Streep “crying in five different accents” or Bobby Vinton singing “Mr. Lonely.” But Joan Rivers did get white gardenias and performances from The New York City Gay Men’s Chorus , Audra McDonald, Hugh Jackman, and the New York City Police Department Emerald Society bagpipers and drummers.
The funeral even featured a literal red carpet that was then buried with Joan Rivers. Of course, there were plenty of stars in attendance, including Whoopi Goldberg, Sarah Jessica Parker, Barbara Walters, and Bernadette Peters.
“She would love this,” guest Deborah Norville said during the Joan Rivers funeral. “We’ve all said this so many times: The one person who would really think this is the greatest thing ever is the lady who it’s all about, and she’s not here.”
The extravagant funeral was no surprise. After all, Joan Rivers showed no signs of a declining net worth in the years before her death.
Rivers left behind a New York City penthouse that she once compared to Marie Antoinette’s castle. The 5,000 square foot home included floor-to-ceiling windows and a parlor. The mansion was put on the market a few years before Rivers died, and the family’s real estate agent thinks it could sell for more than $30 million. Between this, her Fashion Police salary, and her reported $1 billion of merchandise sales on QVC alone, Joan Rivers’ net worth may even be above the rumored $150 million.
“I could pull my living in and live OK, but I don’t want to live OK,” Joan Rivers once said. “I’m very happy to live in my penthouse, very happy I can pick up a check, very happy to have a great life, and be able to spread my wealth a little bit.”
Of course, some of Joan Rivers’ net worth will go back to the government in the form of taxes. But ironically, many funeral expenses can be deducted from the estate’s payment to Uncle Sam, as long as they are “reasonable expenditures.” These include the costs of the tombstone burial plot, and temple services. So Rivers’ net worth should not dip too much after her death. How much of this estate will go to her daughter remains to be seen, however.
Posted by: Steven Maimes, The Trust Advisor