Though Honey Sherman did not have a will, Barry Sherman had two. Documents that were unsealed by a court last week list assets of $124 million, which are outside of the majority of Sherman’s estate that is wrapped up in his private companies.
Barry Sherman was the founder and owner of Apotex, “a generic pharmaceutical giant.” Barry and his wife Honey were well known Philanthropists.
According to the estate papers, the Shermans’ four children were left equal shares of a fortune that has been estimated to be around $10 billion. Though, the kids are not to receive their quarter shares until they reach age 35.
According to The Star, this is only one of a few intriguing details “in a box of documents that has been sealed since shortly after the Shermans were murdered.” Apparently, the Shermans who were one of the most generous couples in Canadian history did not have a provision for money to go to charity.
When the Shermans were murdered in 2017, their kids were aged 43, 34, 32, and 27. Barry’s will states that “until the child reaches 35 years of age, the trustees of his estate have the ‘unfettered discretion’ to make payments to the child for the ‘maintenance, education, advancement in life’ of the child.
See Kevin Donovan, Barry Sherman’s will divided his estate among Barry and Honey’s four kids when they reach 35 years of age, The Star, June 11, 2021.
Special thanks to Laura Galvan (Attorney, San Antonio, Texas) for bringing this article to my attention.
https://lawprofessors.typepad.com/trusts_estates_prof/2021/06/barry-shermans-will-divided-his-estate-among-barry-and-honeys-four-kids-when-they-reach-35-years-of-.html