Hillman's will illuminates more of late philanthropist's bequests
Just about all of Henry Hillman's property — excluding the late billionaire philanthropist's boats, real estate holdings and selected artworks — will be divided among his four children, according to a copy of his will filed in court Tuesday.
Hillman bequeathed everything else left in his estate, valued at about $800 million , to the Hillman Family Foundations. He earmarked nearly $700 million of that for grant-making efforts in Western Pennsylvania.
The value of the items going to Hillman's heirs — including jewelry, clothing, cars, furniture, silverware, books and pictures — is “unknown” at this time, according to Hillman's last will and testament filed with the Allegheny County Register of Wills. The 13-page document signed by Hillman in 2012 did not include an itemized list of his personal property.
Hillman, who died April 14 at 98, has two sons, Henry L. Hillman Jr. and William T. Hillman, and two daughters, Juliet L. Simonds and Audrey Hillman Fisher.
The items are “to be divided among them as they shall determine,” the will states.
If they can't agree how to do so within six months, Hillman directed his personal representatives to determine how to distribute the property or proceeds from its sale. He emphasized his “desire that my children shall be treated approximately equally” and “that their wishes shall be accommodated to the extent reasonably possible.” Further, he requested the process be done in a way “that the potential for present or future conflict within my family will be minimized.”
Hillman previously established trusts to benefit his children and grandchildren, according to court records filed in recent years.
The trust for Juliet Lea Hillman Simonds is valued at about $156 million and the three others have a combined market value of $447.5 million, 2009 court records show.
Hillman's most valuable paintings and property not going to his heirs will benefit the family's umbrella of 18 private foundations nationwide through the care of The Henry L. Hillman Revocable Trust, which Hillman established on Nov. 18, 1985, and referred to in his will.
Last week, foundation executives announced that the revocable trust's distribution will include about $105 million for the foundation arms that are based in cities where Hillman's four children and nine grandchildren reside.
“The reason he felt strongly about making these gifts to the family foundations is that he had such a positive experience in philanthropy,” Hillman Family Foundations President David K. Roger said last week, before the will was filed. “He wanted it to have that same effect on his children.”
The bulk of the remaining estate — about $695 million — will go to the Henry L. Hillman Foundation. Among its priorities: access to healthy food; maternal and child health care; and innovative solutions to solving social issues.
The windfall will make the Henry L. Hillman Foundation one of Western Pennsylvania's largest charitable funders and balloon its annual grant-making capacity from $18.2 million last year to more than $41 million, according to initial estimates .
The entirety of Hillman's estate would have gone first to his wife and fellow philanthropist, Elsie Hillman, according to the will, but she died Aug. 4, 2015, at 89.
Natasha Lindstrom is a Tribune-Review staff writer. Reach her at 412-380-8514, nlindstrom@tribweb.com or on Twitter @NewsNatasha.
