Last week, the broadcast legend's handwritten will was revealed, which reportedly stated that his $2 million estate would be divided among his five children.
The document, which was reportedly composed on Oct. 17, 2019, two months after King filed for divorce from Shawn, does not mention her at all and also lists his now-deceased children Chaia and Andy as beneficiaries. His will was written several months prior to the loss of Andy, 65, and Chaia, 51. The two died within weeks of each other.
His three remaining children -- Larry King, Jr., 59, Cannon, 20, and Chance, 21 -- were also named. King shared Cannon and Chance with Shawn.
Shawn, however, said that there was already a plan in place between herself and King that was not reflected in the alleged document.
"We had a very watertight family estate plan," she told Page Six of a plan she and her husband drew up "as a couple" in 2015.
"It still exists, and it is the legitimate will. Period," she stated. "And I fully believe it will hold up, and my attorneys are going to be filing a response, probably by the end of the day."
Not only was the document complicated by the deaths of his children in 2020, but King also told Page Six before his passing that he and Shawn had once again become close, though it's unclear whether divorce was taken off the table.
Shawn echoed that statement and said that she and her husband spoke daily and claimed she was never made aware of an amendment to his will.
"It beats me!" she said when asked why she believes King made the new document.
Their shared sons were also "shocked" to learn about the change, she said, and claimed they "are not happy about this."
Additionally, Shawn admitted to the outlet that she believes someone exerted influence over the broadcast legend to compose the new will, though offered no additional details.
"Based on the timeline, it just doesn’t make sense," she said, noting that she doesn't believe he would have cut her out because of the filing of divorce papers.
According to People magazine, King allegedly wrote in the document: "This is my Last Will & Testament. It should replace all previous writings. In the event of my death, any day after the above date I want 100% of my funds to be divided equally among my children Andy, Chaia, Larry Jr., Chance & Cannon."
Page Six reports that under the current will, Shawn would likely only walk away with about $300,000 after the $2 million estate was divided among King's sons and presumably the survivors of his late children.
"It’s the principle," she stated.
Reps for Shawn did not immediately respond to Fox News' request for comment while King's attorney said that while they have no comment on Shawn's position, they feel that "the will, which we will be asking the court to admit to probate on March 25th, reflects Larry’s intent to divide his estate equally among his children."