Walt Disney signed last will and testament....

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Walt Disney signed last will and testament. A 9-page 8.5 x 14 in. legal document typed on 2-hole punched paper stapled to a backing sheet at the top of the pages. Executed in Los Angeles, California, August 7, 1941 and hand dated and signed on the 9th and final page in fountain pen, "Walter E. Disney" and initialed "WED" on page 4. Witnessed and countersigned by 3-additional parties on the final page. In the papers, Disney states that he owns 60% of all outstanding Disney Production stock and that, "one-half (1/2)" stands in the name of Lillian B. Disney. He further affirms that upon his death, all stock of Disney Production should be placed in a trust for the support of his will's benefactors. Disney names his brother Roy and his lawyer Gunther Lessing as members of the advisory board of the trust. Disney then splits the trust with 25% going to each of his two daughters and the remaining 50% to be set aside for the use by the Disney Employees Bonus Pool. A further provision states that should any beneficiary attack the will, they would forfeit their legacy in exchange for the sum of one dollar ($1.00)! The will has been marked "Cancelled" in red pencil written vertically across the first page of the document with additional notation in pencil on the border, "cancelled by reason of new wills dated 12/3/42,which was also cancelled by reason of new will dated 6/9/51". Following the tremendous success of Snow White, the studio began producing Pinocchio and Fantasia which were released in 1940 to poor box office returns (partially due to war raging in Europe). To make up for lost revenues, the company went public in 1940 and implemented heavy salary cuts. The latter caused friction between Disney and his animators leading to a 1941 animator's strike which lasted five weeks. The strike temporarily interrupted the studio's next production, Dumbo, which was released two months after this will was signed. Exhibiting folds and minor handling. In vintage fine condition.