Jay Leno Finalizes Million Dollar Will For Family And Car Museum

Jay Leno is ensuring his loved ones, especially his wife, are well taken care of when he passes.

The TV veteran best known for hosting NBC's "The Tonight Show" recently updated his will to increase the money left behind for relatives. The change stemmed from a court official's worry about the initial sum in his trust.

Jay Leno was appointed conservator of his wife, Mavis Leno, earlier this year following her battle with Alzheimer's disease. The pair have been married for over 40 years without children.

According to new reports, Jay amended his 41-page trust to increase the money left behind for loved ones. Because he and Mavis didn't have children, the beneficiaries in his will were family members.

The list included his wife's brother, Rikki Nicholson, who reportedly lives next door to the couple, and Jay's nephew, Richard Leno. The TV veteran initially left $3 million behind for the duo to split, but a court official had different thoughts.

The official, who became linked to Jay during his conservatorship petition, noted he had conversations with the 74-year-old about the trust and will he created. He explained that he was worried the $3 million he had planned behind for Rikki and Richard wouldn't be enough.

Jay echoed similar concerns and increased the amount he would leave for Rikki and Richard to $7 million. The filing obtained by In Touch also housed the official's agreement that the amended will and trust would be approved.

According to the official, Jay's upgraded will and trust were done in his wife's best interest amid her dementia battle. "No one lives forever, and the actions taken by Mr. Leno are reasonable and necessary for his and Mavis' protection," the filing read.

"Mavis does not object to the petition and, in my opinion, consents to it. Mr. Leno is her protector, and she trusts him. This estate planning is in her best interest and protects her interests," the court official concluded.

Jay's final wishes noted that if he passed away before Mavis, most of his estate would be distributed to the J.D.M. Foundation, which he launched in 1988. The list included the Leno Collection, which housed all his automobiles and motorcycles.

If Jay passed away before Mavis, his will noted, "the estate will divide into the Leno Marital Trust … it will have the Leno Collection and any real property housing Leno Collection."

"It will be irrevocable, and the survivor receives all income, plus principal for reasonable support. After the survivor's death, the after-tax balance will be distributed, along with the Leno Trust to JDM," the filing continued.

In the couple's absence, Jay instructed J.D.M. to form a private operating foundation and contribute to the private operating foundation for his car and motorcycle collection.

The former talk show host explained that J.D.M. would open a museum with his automobile collections, and he also named the three initial directors for the project.

The Blast reported that Jay moved to have full authority over his wife's affairs in January following her Alzheimer's diagnosis. The progressive, degenerative disease is a form of dementia that affects memory, thinking, and behavior.

Given the disease's impacts, Jay asked the court for the legal authority to make financial and medical decisions on Mavis' behalf. He noted that he managed their finances during their 43-year marriage and would continue until his death.

Jay once raved about his successful marriage to Mavis on "The Kelly Clarkson Show," encouraging fans to "marry the person you wish you could be." He used his relationship as the perfect example, claiming he had "married the perfect person."

Last December, The Blast shared that Jay's love for cars and motorcycles hadn't diminished despite escaping two terrifying accidents in November 2022 and January 2023. He joked about his resilient spirit, saying:

"I'm still riding motorcycles. I'm still falling off. I'm still working on cars. No, once a guy learns [something], you can't teach him new tricks."

The automobile enthusiast suffered third-degree burns to his face and hands after the vintage car he was working on went up in flames. The 2022 incident was followed by a motorcycle crash in 2023 that left him with multiple broken bones.

Given Jay Leno's love for automobiles, it is unsurprising that part of his final wishes involves making a forever home for his collection.