The beneficiaries are his wife, Lillian B. Disney, and his two children, Diane Disney Miller and Sharon Disney Brown.
Walt Disney passed on half of his property to his wife and said that is was he choice if she wanted to buy the rest and if she chose to she had to be the first one it was sold to. He also bequeathed to her all of his personal belongings like furniture, silverware, books, paintings, automobiles, jewelry, and any other small items. She can obtain these items within 60 days of his death. If she dies before him or during those 60 days the items he gave to her must be split equally between his two children. Money from his banks and anything else shall be used to make his wife's life comfortable by paying medical bills and things like that. If there is any other money left over it will go to his children and grandchildren. If she dies the money will be divided equally between his children.
A unique item he bequeathed was that 5% of his trust estate shall be set aside for the Disney Foundation and 95% will be given to the California Institute of Art. If the trustee decided the programs would need more money they have permission to give them more of his money.
Walt did not have a probate and that is also just about the only mistake he had in his last will and testament.
His Trustees were his wife, Herbert F. Sturdy, and the United California Bank. They were trusted to distribute money to his children, his wife, and the programs mentioned above.