The decision means Hilton's children and grandchildren will inherit far less than anticipated, the New York Daily News reported Thursday.
Reality TV star and red-carpet fixture Paris Hilton, Barron Hilton's granddaughter, may only inherit $5 million instead of the estimated $100 million she was reportedly expecting.
"The whole family will be devastated, particularly (Paris' mother) Kathy," a source close to the family told the Daily News. "Some of them could be likely to contest the will -- it'll be in the courts longer than Anna Nicole Smith versus J. Howard Marshall."
Ninety-seven percent of Hilton's money is set to go into a charitable trust to benefit the Conrad N. Hilton Foundation, said officials of the foundation, which funds clean water in Africa, education for blind children and housing for the mentally ill.
Notable deaths of 2014 [PHOTOS]
Polly Bergen, Emmy Award-winning actress, dies