Pat Summitt’s last will and testament didn’t spread the property of the Tennessee women’s basketball coaching legend.
Summitt gave all of her “tangible personal property” to her only son, Tyler. A copy of the will was obtained by the News Sentinel and it specified that Summitt’s property included “automobiles, clothing, jewelry and other articles of personal use or ornament.”
Summitt’s home off Alcoa Highway in Blount County was put on sale earlier this summer. She lived at Sherrill Hill Senior Living in Knoxville from late January until her death on June 28 after a five-year battle with early onset Alzheimer’s disease.
The will is dated July 18, 2013. Summitt’s brother, Tommy Head, was the executor.
The document also stipulated that all of Summitt’s “debts, funeral expenses, expenses of my last illness, unpaid charitable pledges, and all taxes, estate, inheritance or otherwise, and any interest or penalties” to be paid by trustees of the “Patricia H. Summitt Revocable Living Trust.” The trust was dated December, 12, 2006.
Tyler Summitt also was designated by his mother to be a non-spouse beneficiary of her state pension. When she retired, Pat Summitt opted to collect a monthly benefit of $14,460, or $173,520 annually in 2012. That benefit, with an annual cost-of-living adjustment, is now collected by Tyler Summitt for the rest of his life. Pat Summitt could have opted instead to collect $21,141 per month, or $253,632 annually, without choosing a beneficiary, and the payments would have ended upon her death.
A News Sentinel analysis in 2014 showed that 2,861 Tennessee Consolidated Retirement System retirees who chose non-spouse beneficiaries and their survivors could draw almost $1 billion, assuming they all lived until age 80. Records showed some retirees had chosen beneficiaries as young as infants to receive lifetime pension payments. More than one-third of the 2,861 beneficiaries were younger than 40 years old at the time of the retiree’s retirement, records showed.
Summitt announced in August 2011 that she had been diagnosed with early onset Alzheimer’s. She stepped down following the 2011-12 season. In 38 seasons, she recorded 1,098 career coaching victories, the most of any Division I coach men or women, and led UT to eight national championships.