Hi Barbies! 👋
With the recent Barbie craze, we’ve found ourselves wondering just how much Barbie’s estate would be worth–there’s the dream house, the beach house, the convertible, the speedboat… the list goes on! So we estimated Barbie’s net worth and outlined tips and tricks to help Barbie plan her estate and distribute her assets.
So if you’re like us and can’t get Kenough of Barbie, keep reading!
Valuing Barbie’s estate
We’ve done some digging to estimate the value of Barbie’s estate, and one thing is for sure, she’s well diversified! From her primary residence (the Barbieland Dreamhouse) to her many vacation homes, her numerous vehicles, and of course, her endless wardrobe, her estate is fairly complex.
All things considered, we estimate that Barbie’s estate could be worth about $1.091 billion, based on fair market value. You go, girl! Continue reading to see the billionaire’s breakdown.
Listing Barbie’s assets
One of the most important aspects of estate planning is making a plan for how your assets will be distributed. You don’t need to list all of your assets (for Barbie, that would be impossible), but making a plan for those with high or sentimental value is good practice.
So, let’s take a look at some of Barbie’s most prized possessions, their values, and tips for how she can include them in her estate plan.
Barbie is a certified real estate tycoon. Dreamhouse? Check. Country Cabin? Yee-haw. Glam Getaway House? Of course.
Sources estimate the value of Barbie’s properties to be a combined $17.88 million, with the most valuable being the Princess Castle at a whopping $5 million.
We recommend that Barbie read our article “Guide to Estate Planning for Homeowners”, so she understands how her properties will flow through her estate and determine how she wants them distributed through her will.
Traveling from Barbieland to, well, anywhere else, is a long journey. So Barbie is equipped with vehicles for all terrain, including a convertible, speedboat, private jet, and of course, a cruise ship (for emergencies). The most valuable vehicle is of course the cruise ship, at an estimated $1 billion dollars. Impressive, Barbie.
Similar to her properties, Barbie should include her vehicles in her will to make sure they’re distributed according to her wishes. If she has loans or debt on the vehicles, she can read more about what happens to your debt when you die.
Side Note: Does anyone else feel the sudden urge to buy a pink Corvette? You’re not alone–searches for convertible Corvettes are up 120% over last year, since the Barbie movie trailer was released.
Barbie is known to love animals, including her puppy Taffy. We know that Barbie would want her pets taken care of after she’s gone, so there’s a few things she can do to make sure they’re protected:
- Choose a pet guardian–Both Skipper and Stacie have puppies of their own, so they’d be great choices as guardians for Taffy.
- Set money aside in a pet trust–To make things easy, Barbie can use the Willful pet trust calculator to determine how much money she should leave in a trust for Taffy’s care.
- Keep an up-to-date will–Barbie is very generous, and it’s easy to believe that she’ll acquire more pets over time. By keeping her will up-to-date, she can make sure they’re all taken care of.
Barbie’s clothing and accessories
Barbie’s wardrobe is infinite, so it would be impossible for her to itemize all of her clothing and accessories in an asset list. Rather, we recommend she make plans to gift the most valuable or sentimental items, and have the rest distributed with her estate.
Barbie can read more about leaving gifts in her will in our article “All About Specific Gifts In A Will”.
How much does Barbie make?
Barbie has many different careers, so it’s hard to nail down what her income and earnings would be from her various jobs. Despite her career success, her income may also be a drop in the bucket compared to the value of her personal brand.
Barbie’s personal brand value
Barbie is the original influencer–her influence and empire has spanned generations and it’s easy to believe that her brand value could be worth billions. In addition to her tangible assets and income from her many careers, her brand value would encompass:
- Licensing deals for her likeness and name
- Income from current and future films and TV series
- Most importantly, the value of her brand and image itself, which has significant influence around the world
It’s almost impossible to estimate the value of Barbie’s personal brand, so we’re categorizing it as ‘invaluable’.
So is Barbie a billionaire?
Move over Kylie and Rihanna, there’s a new it-girl billionaire in town! Here’s our final breakdown of Barbie’s $1.091 billion estate:
Estate planning tips for Barbie
Now that we have the breakdown of Barbie’s estate, let’s take a look at some of the estate planning tips and tricks that could help protect her, her loved ones, and her estate.
Where does Barbie live?
Other than Barbieland, we’ve never known exactly where Barbie lived–until her Malibu dreamhouse popped up on Airbnb, that is!
If Barbie becomes a full-time resident of California, she should create her will in California, because the place where she resides when she dies will dictate the location of her estate. This location is important because it determines what fees her estate will be subject to. For example, most wills in Canada go through probate, and probate fees vary by province.
Understanding Barbie’s marital status
Barbie and Ken may be boyfriend-girlfriend, but most countries don’t recognize BF/GF as a legal relationship status (we received ‘no comment’ from Ken and Barbie on this matter).
In most jurisdictions, your relationship status can be either ‘single’, ‘married’, or ‘common law’. The definition of common law varies, for example in Ontario, couples are considered common law if they’ve lived together for at least three continuous years.
Are Barbie and Ken common law?
The Barbie movie left some aspects of Barbieworld up to our imagination, including where all of the Kens live (is it like a shared compound? A ken-filled dormitory?). So we don’t know if Barbie and Ken meet the cohabitation criteria for common law, but their relationship has endured since his introduction in 1961, so…let’s go with common law.
As common law, any property that Barbie owns by herself, like the dreamhouse, would be considered ‘sold’ on the date of her death. Her estate would then be responsible for the hefty capital gains taxes on her secondary properties, which would also be considered sold.
Barbie could avoid these taxes if she jointly owned the properties with Ken and he survived her. Can you say, Mojo Dojo Casa House?
What if Barbie gets married?
If Barbie were to seal the deal with marriage, it would impact the way her estate is distributed upon her death. We recommend she reads our article “Everything You Need To Know About Inheritance Law” to understand how her estate would be inherited by a spouse.
Making a will for Barbie
Some of the most important decisions when creating a will are choosing people for the important roles, like executor and power of attorney. Here’s who we think Barbie should (and would) pick for these roles.
Who would be Barbie’s executor?
Of the many iterations of Barbie, there are some standout choices for the important role of executor.
Top pick for executor: Lawyer Barbie
Lawyer Barbie would be a great choice for an executor because she’s, well, a lawyer. She would understand the nuances of the executor role and be equipped to make important decisions when needed.
Runner-up for executor: Weird Barbie
Call us crazy, but we’re choosing Weird Barbie as runner-up for executor. She may often be in the splits, but she’s also logical, realistic, and is a sounding board for all Barbies that go through tough times.
Honourable mentions for executor: President Barbie, Judge Barbie
Just some morally-capable and ethical Barbies.
Who would be Barbie’s beneficiaries?
Barbie’s generosity means that in addition to her beneficiaries, she may want to leave money to charities that are important to her. We recommend she reads our article “All About Legacy Gifts” and then includes these plans in her will.
Who would be Barbie’s power of attorney?
Our top pick for Barbie’s power of attorney would have to be Doctor Barbie. Although it’s not essential for a POA to have medical experience, it can be helpful, given they’re responsible for making healthcare decisions if you’re unable to make them yourself.
Other important roles for Barbie to consider
Barbie doesn’t currently have any children, so she doesn’t need to worry about appointing a guardian for minor children in her will. If that were to change, we’d recommend she include this important information in her will.
Now that we’ve valued Barbie’s eccentric estate and outlined some tips and tricks for her estate plan, it’s easy to see how estate planning can get tricky without the right tools. With Willful, you can create an online will in just 20 minutes, no lawyer needed.
So, are you ready, Barbie?