Dolly Parton’s late husband’s will drops major clues on how music legend will divide up her $650m fortune
DOLLY Parton’s late husband’s will has revealed clues into how the music icon will divide up her massive $650 million fortune in the months after her death.
In Carl Dean’s last will and testament obtained by The U.S. Sun, he set out his wishes for his property, including what should happen to Dolly’s estate.
Carl died on March 3, 2025, just 18 months before Dolly’s death.
Carl’s will claimed Dolly would have trusted him with her estate should she have died first, so his will appears to have been done in coordination with the music legend.
In his 2013 will, Carl set out a directive specifically about Dolly’s personal effects relating to her “music and entertainment career.”
Carl said that if Dolly does not survive him, all of her career artifacts “including…pictures, costumes, jewelry, musical instruments and equipment and souvenirs” are to be distributed according to the terms of the Carl Thomas Dean Trust.
The actual terms of that trust, however, are not public.
Carl then directed that for the rest of his belongings, in the event that Dolly died before him, should be distributed among their nieces and nephews.
At the time of his will, which was updated in 2013, Carl acknowledged five of his own nieces and nephews, and then another 14 on Dolly’s side, who are named to be beneficiaries of the estate.
Dolly and Carl had no children together.
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Despite online rumors that Dolly left all royalties relating to her song Jolene to her goddaughter Miley Cyrus, there was no mention of the pop star in Carl’s filings.
The philanthropist’s husband also set out a specific clause for the allocation of money to charity.
Under a section titled Payment of Debts and Administration Expenses, Carl authorized his executor to make decisions to pay out any “unpaid charitable pledges” at their sole discretion.
Carl essentially was leaving the door open for his executor to pay any charity that may have had an outstanding donation promise from his and Dolly’s estate.
As The U.S. Sun exclusively reported, Dolly was quietly getting her affairs squared away during her final months.
Public records show that her expansive Willow Lake Plantation property was transferred to the DP Dean Trust on April 21 of this year for $0.
A county clerk noted that the estate was previously held under the DP Spousal Trust before being shifted into the DP Dean Trust.
Since Dolly served as the trustee for the spousal trust, it seems clear she was actively rearranging her real estate holdings just four months before her passing.
Recent 2025 tax records assessed her main home in Brentwood, Tennessee, at $10,700,400, while her neighboring property was appraised at $1,282,800.
Dolly was the sole beneficiary of the Carl Thomas Dean Trust.
As The U.S. Sun previously exclusively revealed, her personal real estate holdings in Tennessee alone were valued at a minimum of $180 million.
Forbes estimated her net worth at roughly $450 million in 2025.
Much of that fortune stemmed from her 50 percent ownership of the Dollywood theme park, alongside a prized music catalog featuring over 3,000 songs—including massive hits like 9 to 5 and I Will Always Love You —which was valued at around $120 million.
Beyond her music and business ventures, she also founded Dolly Parton’s Imagination Library, a beloved charity that mails free books to young children across five countries.
The icon passed away at 80 years old following a brief battle with cancer.
