Prince, the legendary entertainer and pop icon who died last week, did NOT have a Will – this according to court papers filed by the late singer’s sister. Plus, he had no spouse, children or surviving parents, which means settling his estate will likely be a costly and chaotic process. Prince, who handled many if not most of his business dealings himself and is said to have had a multitude of attorneys and legal representatives through the years, also had five half-siblings, which, according to Minnesota law, are considered full siblings.
Prince’s estate is believed to be worth hundreds of millions of dollars, especially considering it includes the rights to all his vast and valuable music library. With no one in place legally to handle Prince’s legacy, insiders are predicting a long, drawn-out and potentially ugly family battle.
And none of this had to happen. But this case serves as just another example of why EVERYONE needs to have a Will, Living Will, Trusts, Executors – all the proper Estate Planning elements in place – because we never know. And it doesn’t matter the size of your estate. Dying without an Estate Plan puts everything you’ve worked for you entire life in jeopardy, and places an unwelcome and unfair burden on your surviving family members and may result in the state taking possession of much of your estate.
Jeffry Hines at the Proskin Law Firm is one of the area’s most respected Estate Planning and Administration attorneys. He will walk you through the process and get you set-up with a plan that will remove your worries about your family’s financial future.
Contact Jeff at 518-436-0775 or Jeff@proskinlawfirm.com. And check out this video, in which he explains the importance of Estate Planning
Untimely deaths happen everyday – to entertainment superstars and to regular people. We all need the protection and peace of mind that comes with knowing we have a Will in place. Let us provide that for you.
The Proskin Law Firm: The Experience You Need – The Expertise You Deserve.