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Beyond the paycheck, his net worth was tied up in real estate and assets. Wayne owned a substantial portfolio of properties, including his primary residence in Los Angeles and a ranch in Nevada. The famous "Duke's Ranch" in Ventura County was more than just a hobby; it was a working property that added significant value to his bernard king family estate. The challenge for his executors, however, was the "step-up in basis" tax implications. When an asset is inherited, its value is often reset to the market price at the time of death. While the land and property were valuable, the capital gains taxes associated with liquidating those assets could significantly reduce the net figure reported on paper.
