Lady Bird's children inherit estate

AUSTIN, Texas, Aug. 22 (UPI) -- The two daughters of Lady Bird Johnson, the widow of former U.S. president Lyndon B. Johnson, have inherited her entire Texas estate.

While Johnson's entire estate still needs to be appraised and inventoried, Lynda Johnson Robb and Luci Baines Johnson have been named as her sole beneficiaries in the former first lady's will, the Austin (Texas) American-Statesman reported Wednesday.


But Austin attorney Walker Arenson warned that the entire process of preparing the estate could take a substantial amount of time.

"It could be two years before we get a public inventory," he said.

Johnson's will also stated that any of her outstanding taxes and debts be paid by the Claudia T. Johnson Lifetime Trust she founded in 1988.

Johnson, who died July 11 at the age of 94, had built up a successful business empire using her own funds and held stock in the LBJ Holding Co.

The newspaper said that in addition to those holdings, Johnson also owned several stocks and bonds, along with profitable holdings in both private equity and real estate.

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