Michael Douglas Will Leave $400 Million Fortune to Wife Catherine Zeta-Jones to 'Guard the Family Legacy,' Source Claims: 'Can’t Take It With You'

Michael Douglas allegedly plans to leave his fortune to wife Catherine Zeta-Jones.

An insider opened up about the 82-year-old's plans for the future following the October 6 release of his memoir, One Helluva Ride.

"Michael understands life is short and for all his financial success, which has been massive, he knows you can't take it with you," the source explained.

Because of that, the movie star will reportedly hand off his $400 million fortune to his wife of more than 25 years.

But the fortune doesn't just come with abundant wealth.

Zeta-Jones, the mother of two of Douglas' children, Carys, 23, and Dylan, 26, has also been bestowed with the responsibility of carrying on the Douglas legacy.

"Catherine has spent the last 25 years learning about the legacy of the Douglas family, and now she is poised to be its guardian for decades into the future," they explained.

Michael is the son of Hollywood legend Kirk Douglas, who passed away in 2020 at 103 years old.

"Michael has a lot of people in his life who like to jokingly point out to him that his father lived to the age of 103 and Michael should try to break that record himself if he can," the insider alleged. "But Michael's relationship with mortality is a lot more complex than that."

After battling and beating stage 4 tongue cancer in 2010, the source noted that Michael thinks about his own mortality "every day."

"He is showing a lot of foresight by focusing on his memoir, his legacy and enjoying his retirement with Catherine," they shared. "But he has also taken steps to prepare her to manage his considerable estate when he's gone."

Michael, whose children have shown interest in the world of show business, reportedly feels a responsibility to ensure that his family name still means something long after he passes away.

"It's about the films he and his dad made and it's about making sure the family name lives on in Hollywood history well after Michael is gone," they added.

The Oscar-winner offered a glimpse of his family's conversations around legacy while promoting his memoir.

In one instance, Michael recalled his father being asked if he was "jealous" after his son won an Academy Award for Wall Street, an accomplishment Kirk never managed during his illustrious career.

"Jealous?" Michael recalled his father saying. "This is a sense of immortality, a continuity of generations.”