Philip Seymour Hoffman's will may cause financial problems for the family he left behind.

According to today.com, the talented, Oscar-winning actor amassed a $35 million estate and left it entirely to his girlfriend, Mimi O'Donnell.

A trusts and estates lawyer, Richard Shapiro, says that O'Donnell will have to pay a state and federal tax bill that adds to $11.9 million.

Another trusts and estates expert, Christina Mason, stated that the tax bill could be even higher, going close to $15 million.

Philip Seymour Hoffman's will was also reported to be over a decade old. Today.com reports that with the exception of a trust for the child he had at the time the will was signed, Hoffman had not mentioned the two children he later had with girlfriend Mimi O'Donnell.

Lawyer Richard Shapiro stated that it is likely that Hoffman's younger children will be provided for even though they do not appear in the document.

As girlfriend Mimi O'Donnell handles the death of the beloved actor, his best friend David Barr Katz shuts down rumors of being gay lovers with Hoffman.

Katz, a playwright and married father of four, recently withdrew his lawsuit against the National Enquirer over a completely false story claiming that David was the actor's gay lover and that he watched him freebase cocaine.

Katz, who was also the friend who found Philip Seymour Hoffman dead, reached a financial agreement with the Enquirer and will use the money to set up the American Playwriting Foundation. According to NY Daily News, the foundation will give an annual prize of $45,000 to produce a play.

Hoffman's friend spoke to CNN's Chris Cuomo on Wednesday and spoke of the rumors stating, "My initial reaction was 'ludicrous.'"

He continued, "Phil would have gotten a kick out of that."

It is likely that the National Enquirer was misled by another person with the same name.

David Barr Katz's lawyer, Judd Burstein, stated, "To do this to grieving people and put David in this situation where he was not able to go spend time with Hoffman's family because he was hounded by all the paparazzi? This thing turned into a nightmare in 15 minutes."

Katz said that the issue at hand wasn't accusations of being gay.

The grieving friend stated, "The issue was lying about the drugs, that I would betray my friend by telling confidences."