Hollywood is mourning the death of greatly respected actor, Phillip Seymour Hoffman, this week with celebrities and fans paying tribute to the award-winning actor. 

However, following his death, much of the news coverage has focused on his family - he had a long-time partner, Mimi O'Donnell, as well as three kids. Many are asking where will the sizeable inheritance of Phillip Seymour Hoffman end up?

After starring in many celebrated movies over his career, Hoffman had built up an estimated $35 million in net worth. Now, the biggest question remaining is where this money will go?

Hoffman will play a prominent role in the upcoming sequel to the well-known Hunger Games movie franchise, starring Jennifer Lawrence. He has acted in memorable roles in films such as the dramatic "Capote," and "The Master." For "Capote," Hoffman was nominated for and received an Oscar for his performance.

He was also able to star in less serious roles in movies such as "Along Came Polly," and "The Big Lebowski." He worked with such well-regarded directors as the Cohen brothers, P.T. Anderson, and Spike Lee, and gained an audience of millions.

Hoffman was found dead this Sunday in his apartment by a close friend. Initial indications pointed to a heroin overdose.

"We are devastated by the loss of our beloved Phil and appreciate the outpouring of love and support we have received from everyone," said Hoffman's family in an official statement.

According to the International Digital Times, sources believe that most of the money will go the Hoffman's partner, Mimi O'Donnell, and their three shared children Cooper Alexander Hoffman, Tallulah Hoffman, and Willa Hoffman. However, it is unsure as to whether any of that money will go to charity or how it will be divided among those receiving the inheritance.