Details on Toby Keith’s $400 Million Estate Plan

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Details on Toby Keith’s $400 Million Estate Plan

Toby Keith

When Toby Keith passed away in February 2024 after a battle with stomach cancer he left behind an estate valued at approximately $400 million. Keith’s widow, Trisha Covel, has filed a petition in Oklahoma to serve as administrator of that estate, along with Keith’s Last Will and Testament. Since Keith has three adult children it’s likely that at least a portion of his substantial estate will go to them.

Because of Keith’s popularity and celebrity status, Covel has also petitioned to have the estate filings kept private. That petition was granted and the documents created as the estate moves through probate will be sealed. Covel is the Trustee of the Toby Keith Covel Revocable Trust, and she is focused on not only making sure that business dealings are kept private but that the family’s security isn’t put at risk.

The Last Will and Testament filed by Covel shows that Keith executed the documents on December 15, 2022. This was more than a year after his initial diagnosis of stomach cancer, and approximately six months after he made his diagnosis public. At the time he went public with the diagnosis he had already undergone chemotherapy and other treatment.

Keith’s son Stelen posted a heartfelt tribute to his father in the midst of all the legal proceedings and talked about the singer’s strength and passion, along with the impact he had on his fans and his family. He talked about how his father embodied the American spirit, and that he was a fighter who created a strong legacy within the music industry. Keith’s role as a devoted husband and father was also mentioned in the Instagram tribute.

While it may take some time for the probate case surrounding Keith’s estate to be completely settled it has mostly been kept out of the spotlight through careful consideration to which documents will be sealed and what will be made public. Covel remains focused on keeping her late husband’s business interests and other information private. So far she’s been very successful in doing that and working in the best interests of her family.

At The Estate Planning & Legacy Law Center, we assist people from all walks of life to create thoughtful, deliberate estate plans and documents designed to ensure their goals and wishes for their assets will be carried out. To learn more, contact us today!