Depending on the state of his will or trust, the former wrestling icon’s assets could also face claims from creditors and his estranged daughter.
The untimely death of wrestling icon Hulk Hogan last week has set the stage for a potential estate battle, with Florida law ensuring his widow, Sky Daily, will inherit a substantial share of his reported $25 million fortune, regardless of the contents of his will or trust.
Hogan, who died last Thursday at 71, had been married to Daily for just two years. Under Florida’s spousal elective share statute, a surviving spouse is entitled to a minimum of 30% of the deceased’s estate, even if the will or trust was not updated after marriage.
At least one estate planning professional says this provision could create tension with Hogan’s ex-wives and estranged daughter, Brooke Hogan.
“You set up a trust to protect your assets, so you run everything through the trust.” June Frederiksen, an estate paralegal at Schofner Law Firm, told The Sun. “Even if Sky was left out of his estate and he didn’t update his trust since they married, she would still get a spousal elective share, which she is entitled to thirty percent in Florida.”
Among the various assets Hogan left behind were an $11.5 million mansion in Clearwater, Florida, several businesses, and various investments. He reportedly established both a revocable trust and a personal trust, strategies commonly used to keep assets out of probate court and shield them from creditors.
However, if any assets were not transferred into the trusts, or if the trusts are contested, the estate could still end up in court, making assets vulnerable to creditor claims.
Family tensions may further complicate the process. Hogan’s relationship with his daughter Brooke had been strained for years, and he never met his twin grandchildren, born earlier this year. If it emerges that Brooke was shut out from the will, Frederiksen said she could contest it, potentially sending the estate into probate.
According to Trust & Will’s 2024 Probate Study, just 2% of American adults responding to a survey realized probate would take 20 months, which is the average time needed for the process to run its course. Another 56% majority were in the dark about the associated costs, with 10% expecting it to cost $1,000 or less; meanwhile, just 4% of participants were prepared for the probate process to cost more than $10,000.
Hogan’s financial history has been marked by significant swings. In a 2011 divorce settlement, ex-wife Linda Hogan received more than 70% of the couple’s liquid assets and 40% of his business interests, along with a $3 million property settlement.
Despite these losses, Hogan retained full rights to future earnings, including royalties and book sales, allowing him to rebuild his wealth. He also benefited from a high-profile legal victory in 2016, in which he won a $140 million judgment against Gawker Media, which he argued had violated his right to privacy by publishing part of a recording of an intimate encounter he had with his then-wife’s friend.
