An Up Close and Personal View Into the Life (and Death) of Ed KochAn Up Close and Personal View Into the Life (and Death) of Ed Koch
On Feb. 1, 2013, New York City lost a political icon. Edward I. Koch, who served as mayor of New York City from 1978 through 1989, died of heart failure. After a period of mourning, estate planning geeks almost certainly began to wonder—as they do every time a high-profile individual dies—what’s in Ed Koch's Will? That question has now been answered, though some additional questions have been raised.
As for answers, Koch's Will has been filed with the New York County Surrogate's Court and is a public record for all to see. To summarize the Will:
He instructs his executor to have him buried at the Trinity Church Cemetery in New York City.
He leaves certain photographs and other memorabilia to the New-York Historical Society, pursuant to an agreement of gift entered into by him in September 2000.
He leaves all other tangible personal property to his sister, Pat Thaler. In addition, Koch gives his sister $500,000.
He gives $100,000 to his long-time secretary, Mary Garrigan, who worked with him for nearly forty years. Ms. Garrigan was, perhaps, Koch's most trusted confidant and, by all accounts, knew more about Koch's life than anyone else.
He gives $50,000 to each of his late brother's wife, Gail Koch, his nephew, Andrew Koch, and his niece, Joey Koch.
Koch leaves the balance of his estate, estimated to be around $10 million, to the issue of his sister Pat Thaler (she has three sons), in equal shares, per stirpes.
At first blush, Koch's Will appears to be a well-thought-out plan to carry out his wishes in a relatively simple and efficient manner. Koch was the kind of person one presumes put a lot...
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