Dick Clark Estate -- Donating $1 Million to College Frat

The ghost of Dick Clark is on double secret probation ... because TMZ has learned the legend earmarked $1 MILLION of his fortune for his college frat ... and that's a lot of beer.

According to legal docs filed by the Clark Estate trustees, Dick gave the loot to the Delta Kappa Epsilon Foundation in New York, which handles finances for the frat's chapters around the country.

Dick passed away last April ... and various money issues are still being hashed out.

FYI, Clark was a DKE bro while he attended Syracuse University from 1947-1951.

Other famous Dekes include George W. Bush, Teddy Roosevelt, Joe Paterno, and George Steinbrenner.

Toga! Toga! Toga! Toga!