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TORONTO – Murdered billionaire Barry Sherman, according to court documents, left all his fortune to be divided evenly between his four adult children if his wife died.

The estate had attempted to have all documents of the Apotex founder’s last will sealed for security reasons, but in a unanimous decision last week, the Supreme Court of Canada ruled that the contents of the documents did not meet the threshold to justify an exception to the principle of open jurisdiction and ordered their release.

The newly unsealed estate papers list assets of more than $ 124 million, though that number wouldn’t include the bulk of Sherman’s assets tied up in various holding companies.

In fact, at the time of Barry Sherman’s death, Forbes had estimated his net worth at $ 3.2 billion, and the Toronto Star has reported that it could be much higher.

Among the dozen of pages of documents unsealed on Friday is Sherman’s primary will, as well as a secondary will that covered another tranche of assets.

In the primary will, Barry instructs his trustees to distribute his entire fortune evenly between his four children in the event of Honey Sherman’s death.

However, he demands that up to the age of 35 more than 40 percent of the share of every child is withheld. From the age of 24 they receive a quarter and from the age of 30 they receive a third.

Sherman also gave instructions in case he died before his wife.

In this case, he asked the trustees to hold all of his assets in trust and to pay “the resulting annual net income” to Honey Sherman “in quarterly installments.”

He also allows his trustees “absolute and absolute discretion” to make additional payments to Honey Sherman from his estate to provide for their “comfortable upkeep and use” as they see fit.

Interestingly, Sherman does not order that any portion of his wealth be donated to charity, instead declaring that his four children – Lauren, Jonathon, Alexandra, and Kaelen – would split it evenly after Honey’s death.

Both Barry and Honey Sherman were well-known philanthropists who donated hundreds of millions of dollars to charitable causes over the course of their lives.

“I instruct my trustees to split whatever left over into as many equal shares as necessary to carry out the following, and set aside one of those equal shares for each of my children who survive the split date …” that Testament states.

Sherman Will was updated in 2017

The estate papers are released almost three and a half years after Barry and Honey were found dead by a real estate agent in their house on Old Colony Road.

They were found in a semi-sitting position on the deck of their indoor pool, hanging from straps on a railing. Autopsies revealed that both Honey and Barry died from compression of the ligature neck.

While some police sources initially suspected that the incident could have been a murder-suicide, the police eventually classified it as a double homicide.

However, there have been no arrests to date.

Barry’s primary will is dated May 13, 2005, but was amended in March 2017, shortly before his death, to change the trustees listed.

He previously appointed eight trustees, including all four of his children, but in 2017 he changed that to include only his son Jonathon Sherman, son-in-law Bradley Krawczyk, business partner Jack Kay, and family holding manager Alex Glasenberg 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.

Honey Sherman had no will at the time of her death.

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news.google.com

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