Prince. Dead at 57 with a reputed fortune of $300 million. No Will has been found and his estate is now subject to claims by an “adopted child”, a “half –sister”, and his sister. Prince had 6 siblings. Expect a messy and expensive legal fight!
Abraham Lincoln. 16th President of the United States and a lawyer.
Kurt Cobain. He left a suicide note.
Pablo Picasso. It took 6 years to settle his estate at a reputed cost of $30 Million involving 7 claimants.
Bob Marley. It was reported that Marley did not accept death because of his Rastafarian beliefs and was told “everythings gonna be alright”. Marley was survived by a wife and 4 children with her, and 8 children by other women. Predictably, litigation followed.
Without question, your Will is one of the most important documents you will ever sign. As with all documents which may have legal effect, the wisdom of having your Will professionally drafted cannot be underestimated.
If you die without a Will, the Intestacy Rules will apply. The rules may have the effect of distributing your estate to persons you did not wish it to go to.
We recommend all of our clients have professionally drafted Wills and that same be reviewed at least every three years.
Proper succession planning is essential to ensure the distribution of wealth after death and to avoid costly litigation.
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The above is not intended as legal advice and all liability is disclaimed for reliance on it.
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