Fans Can't Believe This Was Matthew Perry’s Bank Balance Upon Death—Despite Million-Dollar Net Worth

Following the tragic death of beloved Friends star Matthew Perry in October 2023, fans and the media have been closely following the proceedings surrounding his estate. Recently, new documents have revealed surprising details about Perry’s finances, leaving many fans puzzled about the true state of his wealth. Perry, best known for his iconic role as Chandler Bing, reportedly had a net worth of around $120 million at the time of his death. However, an inventory and appraisal document from his probate estate revealed that his personal bank account held  $1,596,914.47. While nearly $1.6 million is a substantial sum, it appears modest compared to his estimated net worth, nudging questions about the whereabouts of the rest of his fortune.

As per People, probate lawyer Jonathan Forster, who is not involved in Perry’s case, explained, "It appears that everything in his will was left to his trust. The reason why we use trusts as opposed to wills is that trusts also avoid probate, and probate is a court-supervised transfer of assets, and probate is public. When we're typically doing an estate plan with a will and a trust, the will simply leaves assets to the trust. You would fund [the trust] during your lifetime.”

Forster further added, “The will would be kind of like a catch-all, where if there are any assets owned by the person when they pass away, the will is directed to transfer those assets into the trust. Everything under the trust is not subject to probate, and everything that has a beneficiary designation is not subject to probate. We would always advise clients to retitle their accounts in the name of their trust to avoid probate. However, Matthew Perry likely failed to retitle this account."

As per Nicki Swift, Perry’s estate is managed by his trustee, Lisa Ferguson, who holds the title to his Pacific Palisades residence, where Perry passed away. Additionally, the title of his other property is under Alvy Singer LLC, the same name as his trust. These measures ensure that most of Perry’s assets are not subject to public scrutiny through probate. Perry, who passed away from the acute effects of ketamine, was reportedly clean for 19 months prior to his death. His struggle with substance abuse was well-documented, and in the months before his passing, he was planning to create a foundation to support those battling addiction.

Following his death, his family honored his legacy by launching the Matthew Perry Foundation, dedicated to helping others struggling with addiction. The mission statement reads, "The Matthew Perry Foundation is the realization of Matthew's enduring commitment to helping others struggling with the disease of addiction. It will honor his legacy and be guided by his own words and experiences and driven by his passion for making a difference in as many lives as possible."