CANADA Canada - Barry, 75, & Honey Sherman, 70, found dead, Toronto, 15 Dec 2017 #16

Status
Not open for further replies.
If Honey didn’t have a will, would everything she owned automatically go to Barry, so they just use his will to dispense the wealth? Or would Honey’s estate get divided equally among her kids and Barry’s estate get divided according to his will?

Why did the family want this will to remain secret? Did they not want their addresses disclosed? Or is there something more. Did Barry have another child that no one knew about? Were we to assume that when it said he left everything to his kids, that there were just 4? By making the will public will we find out that there were more?

A thought, she had nothing "personal" to leave anyone? If everything was in his name then she could not bequest it to anyone. Stories that Barry gave everyone else lots of money but none to Honey would mean she had no reason to have a will. The new home would be in her name but existing was all Barry I believe.

If there is an HS will, it could be a prelim draft for when she was to receive her large $$ gift from Barry or, maybe the suggested will was regarding properties owned with her sister and not anything to do with Barry's estate that he had the will for?
 
A thought, she had nothing "personal" to leave anyone? If everything was in his name then she could not bequest it to anyone. Stories that Barry gave everyone else lots of money but none to Honey would mean she had no reason to have a will. The new home would be in her name but existing was all Barry I believe.

If there is an HS will, it could be a prelim draft for when she was to receive her large $$ gift from Barry or, maybe the suggested will was regarding properties owned with her sister and not anything to do with Barry's estate that he had the will for?

Donovan’s latest article said that Honey had $45.9 million in personal property and $9.5 million in real estate.

Barry seemed to pay her bills, maybe her personal property had relatively little cash(?)
 
Donovan’s latest article said that Honey had $45.9 million in personal property and $9.5 million in real estate.

Barry seemed to pay her bills, maybe her personal property had relatively little cash(?)

Barry’s personal wealth wasn’t remarkable either - Barry had $ 66.9 million in personal wealth and $ 1.8 million in real estate. If his net worth was somewhere between 5 and estimates as high as $10 billion the valuation of assets probated indeed is chump change in comparison to the vast majority of his wealth directed outside of probate, inside trusts or held as corporate shares. If he’d planned to give Honey $300 million in addition to paying the $500 failed lawsuit from another pharmaceutical company, or least of all donate his estate to The Giving Pledge it appears he was not aggressively selling off his assets in order to do so.

I note the source of that story was take-it-with-a-grain-of-salt DM. If this person was also KD’s source, whoever it is doesn’t project a great deal of confidence in the overall reliability of any known intention.

Question @Kerry Winter - Why would Barry’s Will become an issue involving the lawsuit? I notice his last will appears to have been dated 2005, prior to your initial lawsuit filed in 2007.

BBM
The issue came up after the British newspaper, The Daily Mail,reported Thursday that shortly before their brutal Dec. 13, 2017 murders in the couple’s Old Colony Rd. mansion, they talked about signing up with The Giving Pledge initiative started by Bill and Melinda Gates of Microsoft fame….

…..In the Sherman’s case, it would mean that the bulk of their estimated $5-billion estate would go The Giving Pledge and not to family members or designated beneficiaries as laid out in a last will and testament…..

…..“My understanding is they spoke about it,” said a person close to them of the idea.

The Gates part of it has not been talked about in Toronto circles. But Sherman’s cousin Kerry Winter said it was Barry’s wish to pursue something like that.

Winter said he knew about Barry’s wishes and it was an issue in the lawsuit the cousins filed against the Apotex giant.


“It’s nothing new,” said Winter. “He told me that more than once.”

But Barry, said Winter, “never mentioned Gates, The Giving Pledge.”

WARMINGTON: Did billionaire Shermans want to leave wealth to Bill Gates' charity? | Toronto Sun
 
$1.8 million in real estate? That has to be way out of date now. That would buy a medium sized detached home now in Toronto. ;)

Wealthy people generally hold very little assets in their personal names. One of the reasons is tax advantages including eligible write offs. It appears Barry prescribed to that strategy.

“That Sherman had a numbered Ontario company with his sister-in-law named as an officer wouldn’t surprise anyone familiar with his labyrinthine holdings outside of Apotex—ventures that put the test to Sherman’s claim he didn’t care about making money…..

…..Relatives pop up in the records of Sherman’s non-Apotex ventures held through “Sherm”-prefixed companies—including Shermco Inc., Sherfam Inc., Sherfam Industries Inc., Sherfam Holdings Inc.—as well as Bernard C. Sherman Limited and numerous trusts and private foundations. The Shermans’ real estate holdings—apartment buildings, condos, commercial properties, rumoured private islands—were held via Sherfam Inc., Signet Realty and Weston, Fla.-based Sherm Realty, as well as trusts….”
Endless court battles, angry relatives and shady players: the truth about Barry Sherman
 
June 14, 2021
Slain billionaire Barry Sherman divided estate equally among four children
''In the primary will, Barry directs his trustees to evenly distribute his entire fortune among his four children in the event of Honey Sherman’s death.

But he asks that more than 40 per cent of each child’s share be withheld until they turn 35. They would receive one quarter of their share upon turning 24 and one-third upon turning 30.

Sherman also laid out instructions in the event that he died before his wife.

In that case, he asked that trustees hold his entire estate in trust and pay “the net annual income derived therefrom” to Honey Sherman “in quarterly installments.

He also gives his trustees “absolute and unfettered discretion” to provide Honey Sherman with additional payments from his estate to provide for her “comfortable maintenance and benefit” as they deem fit.

Interestingly, Sherman does not direct that any portion of his estate be donated to charity and instead states that his four children - Lauren, Jonathon, Alexandra and Kaelen - would split it evenly upon Honey’s death.''

rbbm.
Slain billionaire Barry Sherman's will divided estate equally among four children
''Barry’s primary will is dated May 13, 2005 but it was amended in March, 2017, just prior to his death, to change the trustees listed.

He previously named eight trustees including all four of his children but in 2017 changed it so that only his son Jonathon Sherman, his son-in law Bradley Krawczyk, his business partner Jack Kay and family holding company executive Alex Glasenberg were listed as trustees.

The estate papers suggest that Barry had $124 million in assets at the time of his death, including more than $6 million in real estate holdings.

Honey Sherman did not have a will at the time of her death.''
 
I find it strange that even if Honey did not have money, property etc in her name (I don't know this of course). I still think that she would have a will distributing jewellery, family heirlooms, art work etc. I am not wealthy but have done this for my children and grandchildren.
 
Barry’s personal wealth wasn’t remarkable either - Barry had $ 66.9 million in personal wealth and $ 1.8 million in real estate. If his net worth was somewhere between 5 and estimates as high as $10 billion the valuation of assets probated indeed is chump change in comparison to the vast majority of his wealth directed outside of probate, inside trusts or held as corporate shares. If he’d planned to give Honey $300 million in addition to paying the $500 failed lawsuit from another pharmaceutical company, or least of all donate his estate to The Giving Pledge it appears he was not aggressively selling off his assets in order to do so.

I note the source of that story was take-it-with-a-grain-of-salt DM. If this person was also KD’s source, whoever it is doesn’t project a great deal of confidence in the overall reliability of any known intention.

Question @Kerry Winter - Why would Barry’s Will become an issue involving the lawsuit? I notice his last will appears to have been dated 2005, prior to your initial lawsuit filed in 2007.

BBM
The issue came up after the British newspaper, The Daily Mail,reported Thursday that shortly before their brutal Dec. 13, 2017 murders in the couple’s Old Colony Rd. mansion, they talked about signing up with The Giving Pledge initiative started by Bill and Melinda Gates of Microsoft fame….

…..In the Sherman’s case, it would mean that the bulk of their estimated $5-billion estate would go The Giving Pledge and not to family members or designated beneficiaries as laid out in a last will and testament…..

…..“My understanding is they spoke about it,” said a person close to them of the idea.

The Gates part of it has not been talked about in Toronto circles. But Sherman’s cousin Kerry Winter said it was Barry’s wish to pursue something like that.

Winter said he knew about Barry’s wishes and it was an issue in the lawsuit the cousins filed against the Apotex giant.


“It’s nothing new,” said Winter. “He told me that more than once.”

But Barry, said Winter, “never mentioned Gates, The Giving Pledge.”

WARMINGTON: Did billionaire Shermans want to leave wealth to Bill Gates' charity? | Toronto Sun

who is DM?
 
I’m confused. So who got the other (estimated) four thousand nine hundred million dollars ($4,900,000,000.00)?

This is my understanding: For the most part, the four Sherman heirs inherited everything. Barry had two wills, the primary one which addressed his & (somehow) Honey’s private property and real estate, and a secondary will that covered the billions in holdings (but no specific numbers were noted.) Both wills had the same trustees and the same directions to the trustees. Paywalled: Barry Sherman’s will divided his estate among Barry and Honey’s four kids when they reach 35 years of age

I don’t fully understand it. I’m hoping Donovan writes more about it.
 
I’m confused. So who got the other (estimated) four thousand nine hundred million dollars ($4,900,000,000.00)?
In US, assets held in trust or owned jointly or with named beneficiaries, like retirement plans, generally do not appear as probate assets and are not subject to the provisions in the will. In short the public records, the will plus probate filing, do not report all assets in which decedent had a beneficial interest. The public records do not show who inherits those assets. Maybe Canada has similar structures.
 
In US, assets held in trust or owned jointly or with named beneficiaries, like retirement plans, generally do not appear as probate assets and are not subject to the provisions in the will. In short the public records, the will plus probate filing, do not report all assets in which decedent had a beneficial interest. The public records do not show who inherits those assets. Maybe Canada has similar structures.

Yes, it’s the same in Canada and it’s been been reported that indeed Barry did have two wills. As the secondary will wouldn’t require probate through the Courts, if it wasn’t included in the estate file which KD successfully was able to have unsealed, then it’s not considered a public record.

“While Honey appears not to have had a will, Barry had both a “primary” and a “secondary” will. In Ontario, people who own a private business often have two wills. The primary will includes such things as real estate, vehicles and publicly traded shares — holdings that typically go to “probate” and for which an estate administration tax must be paid to the government. No estate tax has to be paid on anything left in secondary wills, which typically house shares in private companies. In the Sherman case, his company Apotex is privately held, mostly by the Shermans…”.
Where is Honey Sherman’s will? - WWWHive Digital
 
So what was so earth shattering in the estate documents that the family worried would put them in danger, cause embarrassment and require the need for extra security??
- apparently nothing left to charities?
- less inheritance than one might expect?
-the adult kids do not get full payout till the age of 35?
Maybe i am missing something, or the big deal estate secrets have not yet been revealed?
imo, speculation.
 
If the hundreds of pages of docs unsealed last week were in a box... I'm assuming that is 'one copy' of the hundreds of pages.. I'm assuming that not only KD has access to these documents, but all media would have the same access?? How long does it take the court to make copies upon request? Are copies allowed to be made, or must the docs be viewed AT the courthouse? Are all of the media keeping silent about what is in B's 'second will'?

ETA: to add:

Also... is it possible there may have ALSO been a publication ban, in addition to the documents being 'sealed'? Or is it possible that immediately following the SCC ruling to unseal the docs, the TPS sought a pub ban? Would KD and other media tell us if there was a pub ban, or is it possible that part of the pub ban could potentially include that there IS a pub ban? imo.

"After the Supreme Court of Canada ordered the entire Sherman estate file unsealed, the Star found the documents late Friday in a courthouse sealed in multiple yellow packages in a plain, unmarked box. "

Barry Sherman’s will divided his estate among Barry and Honey’s four kids when they reach 35 years of age
 
this media report states he had 6 million in real estate?

Slain billionaire Barry Sherman's will divided estate equally among four children

This article talks about Barry's will and is a lot about Honey and her death. It appears that Barry owned everything and was making the decisions of what will be one with it until he AND Honey died. Twice it is referenced/ stated that after Honey dies the money goes to the 4 kids.

Curious now even if she did have a will, how legal would it be if it did not follow Barry's lead and what he wanted to be done with HIS assets.

It reads as if it is the will and testament for the two of them, a combined will. Maybe Honey did not feel the need to do a personal primary one as well, since it was all covered in Barry's, why create another one and complicate the matter?

It appears that Barry was in complete control, Honey legally could not change the direction of Barry's bequests created in his will even if he died before her, she was to be under a trust and kept well, not given anything that would be hers to bequeath to anyone other than the 4 children that are already earmarked for the inheritance.

This rings of some truth with the rumor that Honey was speaking of Barry gifting her a large amount of money soon. Possibly she did meet with a lawyer to draw up a personal/primary will for when she did have something to bequeath in her name, we will never know.

We know they had a lot of money, we assume from the intel we can garner that Barry controlled all of the purse strings and money was always an issue with the family coming to him for it. It still surprises me that JS would keep asking for more and more money if he had all of these successful businesses and lives in great luxury why did Barry need to pay for the surrogacies? It appears that JS would not spend any of his earnings to create a family, and if the reports are true he has been gifted 10's if not hundreds of millions of $$, why go to Barry for 300K? what happened to all that money he had?
 
Status
Not open for further replies.

Members online

Online statistics

Members online
175
Guests online
910
Total visitors
1,085

Forum statistics

Threads
589,938
Messages
17,927,945
Members
228,007
Latest member
BeachyTee
Back
Top